Guideline Value for Thadikara Swamy Street

Thadikara Swamy Street guideline value

The current guideline value of Thadikara Swamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thadikara Swamy Street has changed

The guideline value for Thadikara Swamy Street has undergone several revisions over the years. In 2002, the value was Rs 388 per sq.ft, which increased to Rs 486 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 800 per sq.ft in 2007, representing a 65% change. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, which is a decline of 338%. The value remained the same in 2012 and then rose to Rs 2,345 per sq.ft in 2017, showing a 49% increase. The most recent revision occurred in 2023, with the value set at Rs 3,500 per sq.ft, before it increased to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 892%. There are no figures available for revisions in years not mentioned in the register.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which matches the current guideline value of Thadikara Swamy Street.

• Taduma Street/Nagar: Rs 2,750 per sq.ft (2024)
• Swaminathan Street: Rs 3,850 per sq.ft (2024)
• Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thadikara Swamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thadikara Swamy Street?

The Sub Registrar Office that covers Thadikara Swamy Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for properties in Parangimalai. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Accurate knowledge of the guideline value helps in understanding the financial implications involved in property dealings.

Frequently asked questions

What is the current guideline value of Thadikara Swamy Street?

The current guideline value of Thadikara Swamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 388 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing significant changes across various revisions.

What are the other streets in Parangimalai with similar guideline values?

Other streets in Parangimalai with a guideline value of Rs 3,850 per sq.ft include Swaminathan Street, Subedhar Street, Thiruvalluvar Ist, II nd, IIIrd Lane, and Thiruvalluvar Street.

How is the stamp duty calculated for properties in Thadikara Swamy Street?

The stamp duty for properties in Thadikara Swamy Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Thadikara Swamy Street?

The Sub Registrar Office for Thadikara Swamy Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.