Guideline Value for THIPPU SAHIB STREET

Thippu Sahib Street guideline value

The current guideline value of Thippu Sahib Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Thippu Sahib Street has changed

The guideline value for Thippu Sahib Street has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 612 per sq.ft. This increased to Rs 680 per sq.ft in 2003, marking an 11% rise. The value then saw a substantial increase to Rs 900 per sq.ft in 2007, which was a 32% change. Following that, the 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a significant increase of 233% from the previous revision. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%.

In the latest 2024 revision, the guideline value rose to Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure. It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 439%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thippu Sahib Street's 2024 figure is below this median.

• Thideer Nagar: Rs 3,300 per sq.ft (2024)
• Thiagarajan Puram: Rs 7,700 per sq.ft (2024)
• Thengoor Selva Vinayagar Koil Street (Tsv): Rs 7,100 per sq.ft (2024)
• Thejabai (Marvadi Thottam): Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Koil Street: Rs 7,100 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thippu Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 precise calculations based on your property's details.

Which Sub Registrar Office covers Thippu Sahib Street?

The Sub Registrar Office that covers Thippu Sahib Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Mylapore. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value or the sale price, whichever is higher, is used to determine the applicable duties and fees. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thippu Sahib Street?

The current guideline value of Thippu Sahib Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 439% over the years.

What is the land classification for Thippu Sahib Street?

Thippu Sahib Street is classified as Residential Class V Type - III under the Mylapore SRO.

Where can I find the Sub Registrar Office for Thippu Sahib Street?

The Sub Registrar Office for Thippu Sahib Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000.