Guideline Value for Thai Avenue

Thai Avenue guideline value

The current guideline value of Thai Avenue, located in Ottankaranai village under the Sriperumpudur SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Thai Avenue has changed

Looking at the historical revisions, the guideline value for Thai Avenue was Rs 80 per sq.ft in 2012. This increased to Rs 54 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, reflecting an increase of 85%. The value remained unchanged at Rs 100 per sq.ft from 2023 to 2024.

The guideline value has seen an overall increase of 25% from 2012 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ottankaranai

In Ottankaranai, there are eight streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. Thai Avenue's current guideline value is below the median of Rs 150 per sq.ft for the area.

• Mcb Ragas Phase-II: Rs 200 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Erikarai Street: Rs 100 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Bajanai Koil 2nd Cross Street: Rs 100 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Thai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee is charged at 2%, amounting to Rs 2,000. Together, the total cost for these fees is Rs 9,000. It's important to 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 detailed calculations.

Which Sub Registrar Office covers Thai Avenue?

The Sub Registrar Office that covers Thai Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Ottankaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property is sold, the guideline value is used to determine the applicable fees, which can affect the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to accurately estimate their expenses during the registration process.

Frequently asked questions

What is the current guideline value of Thai Avenue?

The current guideline value of Thai Avenue is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What are the other streets in Ottankaranai with guideline values?

Other streets in Ottankaranai include Mcb Ragas Phase-II, Ganapathy Nagar, Erikarai Street, Bajanai Koil Street, Bajanai Koil 2nd Cross Street, and Bajanai Koil 1st Cross Street, with values ranging from Rs 100 to Rs 200 per sq.ft.

Where is the Sub Registrar Office for Thai Avenue located?

The Sub Registrar Office for Thai Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated in relation to guideline value?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at a rate of 7%.