Guideline Value for Thakar Street

Thakar Street guideline value

The current guideline value of Thakar Street in Muthialpet village is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class I Type - II.

How the guideline value of Thakar Street has changed

The guideline value for Thakar Street has seen significant changes over the years. In the 2007 revision, the value was Rs 2,300 per sq.ft. This increased to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 183%. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The value then rose again to Rs 6,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 7,100 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 209%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Thakar Street's 2024 guideline value is above this median.

• Thakar lane: Rs 7,100 per sq.ft (2024)
• Thambu Chetty Street 4th segment (Mannady Street to Ibrahim Street Junction): Rs 8,800 per sq.ft (2024)
• Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction): Rs 15,900 per sq.ft (2024)
• Thambu Chetty street IInd segment (Mookar Nallamuthu Street to P.O. Street Junction): Rs 15,900 per sq.ft (2024)
• Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street): Rs 18,000 per sq.ft (2024)
• Tailor lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thakar Street?

The Sub Registrar Office that covers Thakar Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an important factor when registering property transactions in Muthialpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thakar Street?

The current guideline value of Thakar Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 209% over the years.

What is the classification of Thakar Street?

Thakar Street is classified as Residential Class I Type - II under the Chennai North Joint I SRO.

Where can I find the Sub Registrar Office for Thakar Street?

The Sub Registrar Office for Thakar Street is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

How is stamp duty calculated for properties in Thakar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.