Guideline Value for Thamarai Keni Street

Thamarai Keni Street guideline value

The current guideline value of Thamarai Keni Street is Rs 2,200 per sq.ft. This street is located in Kottivakkam village, under the Adayar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Thamarai Keni Street has changed

The guideline value for Thamarai Keni Street has seen several revisions over the years. In 2003, the value was Rs 457 per sq.ft, which increased significantly to Rs 1,250 per sq.ft in 2007. The value then rose to Rs 2,000 per sq.ft in 2012, but saw a decrease to Rs 1,340 per sq.ft in 2017. Following this, the guideline value jumped to Rs 2,000 per sq.ft in 2023, and is currently set at Rs 2,200 per sq.ft from the 2024 revision, effective from 1 July 2024.

Notably, the changes between these revisions indicate a +381% increase from 2003 to 2024. The most significant increase occurred between 2003 and 2007, with a rise of +174%. The transition from 2017 to 2023 also saw a considerable increase of +49%. However, the value decreased by -33% from 2012 to 2017.

Guideline values in Kottivakkam

Kottivakkam village features 284 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Thamarai Keni Street's 2024 figure below that median.

• Subramaniyam Road: Rs 3,900 per sq.ft (2024)
• Thiruveedhi Amman Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil First Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil Veedhi: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Keni 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, leading to a total of 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thamarai Keni Street?

The Sub Registrar Office that covers Thamarai Keni Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, thereby influencing the stamp duty and registration fees applicable on the property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions, thus safeguarding the interests of both buyers and sellers. It is essential for all parties involved to be aware of the guideline value applicable to the property in question.

Frequently asked questions

What is the current guideline value of Thamarai Keni Street?

The current guideline value of Thamarai Keni 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 significantly from Rs 457 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +381% over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft for the year 2024, with Thamarai Keni Street's value being below this median.

What are the stamp duty and registration fees for properties in Thamarai Keni Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Thamarai Keni Street located?

The Adayar Sub Registrar Office, which covers Thamarai Keni Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.