Guideline Value for THILAKAR STREET

Thilakar Street guideline value

The current guideline value of Thilakar Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Thilakar Street has changed

The guideline value for Thilakar Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, a rise of 540%. However, the value dropped to Rs 536 per sq.ft in 2017, marking a decrease of 33%. The most recent revisions in 2023 and 2024 both maintained the guideline value at Rs 800 per sq.ft, showing no change from 2023 to 2024.

There are no recorded figures for Thilakar Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 1,000 per sq.ft, positioning Thilakar Street's 2024 figure below that median.

• Theeran Sivalingam Street: Rs 800 per sq.ft (2024)
• Thangavel Reddy Street: Rs 1,300 per sq.ft (2024)
• Thangadurai Street: Rs 800 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)
• Thiru.VI.Ka.Steet: Rs 800 per sq.ft (2024)
• Tholkappiar Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Thilakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thilakar Street?

The Sub Registrar Office covering Thilakar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vengathur

The guideline value is an essential factor in the registration process for property transactions in Vengathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It provides a clear understanding of the property's worth in the market, facilitating a smoother transaction process.

Frequently asked questions

What is the current guideline value of Thilakar Street?

The current guideline value of Thilakar Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and has remained at Rs 800 per sq.ft in both 2023 and 2024.

What are the guideline values for other streets in Vengathur?

Other streets in Vengathur have varying guideline values. For example, Thangavel Reddy Street has a guideline value of Rs 1,300 per sq.ft, while Theeran Sivalingam Street, Thangadurai Street, Thiru.VI.Ka.Steet, and Tholkappiar Street all have values of Rs 800 per sq.ft.

How is stamp duty calculated for properties on Thilakar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000.

Where can I find the Sub Registrar Office for Thilakar Street?

The Sub Registrar Office for Thilakar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.