Guideline Value for Thamarai Cross Street (Iyappan nagar extn.)

Thamarai Cross Street (Iyappan nagar extn.) guideline value

The current guideline value of Thamarai Cross Street (Iyappan nagar extn.) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Thamarai Cross Street (Iyappan nagar extn.) has changed

The guideline value for Thamarai Cross Street (Iyappan nagar extn.) has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, the value then decreased to Rs 1,072 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,600 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,700 per sq.ft.

In terms of percentage changes, the guideline value rose by 300% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 6%. Overall, from 2007 to 2024, the guideline value has increased by 325%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Thamarai Cross Street (Iyappan nagar extn.) has a 2024 figure above this median, reflecting its value in the area.

• Thamarai street: Rs 1,700 per sq.ft (2024)
• Thamarai street (Iyappan nagar extn.): Rs 1,700 per sq.ft (2024)
• Sundar Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Sundaram street: Rs 1,700 per sq.ft (2024)
• Sudakar Street: Rs 1,100 per sq.ft (2024)
• Subramani street (bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Cross Street (Iyappan nagar extn.)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the 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 Thamarai Cross Street (Iyappan nagar extn.)?

The Sub Registrar Office that covers Thamarai Cross Street (Iyappan nagar extn.) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Thamarai Cross Street (Iyappan nagar extn.)?

The current guideline value of Thamarai Cross Street (Iyappan nagar extn.) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What is the land classification for Thamarai Cross Street (Iyappan nagar extn.)?

The land classification for Thamarai Cross Street (Iyappan nagar extn.) is Residential Special Type - II.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Thamarai Cross Street (Iyappan nagar extn.), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. The current rates are 7% for stamp duty and 2% for the registration fee.