Guideline Value for THOTTAKARA STREET

Thottakara Street guideline value

The current guideline value of Thottakara Street, located in Salavakkam village under the Salavakkam SRO, is Rs 175 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thottakara Street has changed

The guideline value for Thottakara Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 75 per sq.ft. This increased to Rs 175 per sq.ft in the 2012 revision, a significant rise of 133%. However, in the 2017 revision, the value decreased to Rs 117 per sq.ft, marking a reduction of 33%. The value then rose to Rs 175 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 133%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, placing Thottakara Street's 2024 figure above that median.

• Veerapathiraswamy Koil Street: Rs 200 per sq.ft (2024)
• Venkateswara Nagar Phase- I: Rs 200 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 200 per sq.ft (2024)
• Yadavar Street: Rs 175 per sq.ft (2024)
• Sindhu Nagar Phase-I: Rs 100 per sq.ft (2024)
• Sindhu Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thottakara Street

For a 1,000 sq.ft plot at the current rate of Rs 175 per sq.ft, the guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total to Rs 15,750. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thottakara Street?

The Sub Registrar Office that covers Thottakara Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Salavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value will be used to calculate the applicable charges, ensuring that both parties are aware of the financial obligations involved in the transaction. This transparency helps in facilitating smooth property transfers.

Frequently asked questions

What is the current guideline value of Thottakara Street?

The current guideline value of Thottakara Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 175 per sq.ft in 2012, then decreased to Rs 117 per sq.ft in 2017, and returned to Rs 175 per sq.ft in 2023 and 2024.

What is the land classification for Thottakara Street?

The land classification for Thottakara Street is Residential Class I Type - II.

How does Thottakara Street's guideline value compare to other streets in Salavakkam?

Thottakara Street's guideline value of Rs 175 per sq.ft is above the median value of Rs 150 per sq.ft for the 38 streets in Salavakkam under the Salavakkam SRO.

Where is the Sub Registrar Office located for Thottakara Street?

The Sub Registrar Office for Thottakara Street is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.