Guideline Value for THYAGI ALALA SUNDARAM STREET

Thyagi Alala Sundaram Street guideline value

The current guideline value of Thyagi Alala Sundaram Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this street is Residential Class V Type - II.

How the guideline value of Thyagi Alala Sundaram Street has changed

The guideline value for Thyagi Alala Sundaram Street has seen several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure then decreased to Rs 1,340 per sq.ft in 2017, before rising to Rs 2,000 per sq.ft again in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes are as follows: from 2007 to 2012, there was a substantial increase of 208%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. Overall, the guideline value has increased by 238% from 2007 to 2024.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing the 2024 figure for Thyagi Alala Sundaram Street below this median.

• Thottikalai Kumarappa Street: Rs 2,200 per sq.ft (2024)
• T.V.H.LUMBINI SQUARE: Rs 10,800 per sq.ft (2024)
• T.V.K.Street: Rs 4,900 per sq.ft (2024)
• Uppira Narayanan 1st Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 2nd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 3rd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thyagi Alala Sundaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Thyagi Alala Sundaram Street?

The Sub Registrar Office that covers Thyagi Alala Sundaram Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is crucial for buyers to be aware of the guideline value to ensure they are paying a fair price and to calculate the associated costs accurately.

Frequently asked questions

What is the current guideline value of Thyagi Alala Sundaram Street?

The current guideline value of Thyagi Alala Sundaram Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What is the land classification for Thyagi Alala Sundaram Street?

Thyagi Alala Sundaram Street is classified as Residential Class V Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Thyagi Alala Sundaram Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.