Guideline Value for Thamarai Street

Thamarai Street guideline value

The current guideline value of Thamarai Street in Peerklankaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Thamarai Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, representing a 10% rise from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase. The current guideline value reflects the latest revision and shows the changes in property valuation over the years.

Guideline values in Peerklankaranai

Peerklankaranai village has a total of 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Thamarai Street's 2024 value below the median.

• Thangaraj Nagar: Rs 2,200 per sq.ft (2024)
• Thangaraj Nagar 1st Cross st: Rs 1,650 per sq.ft (2024)
• Thangaraj Nagar 2nd Cross st: Rs 1,650 per sq.ft (2024)
• Thangaraj Nagar 3rd Cross st: Rs 1,650 per sq.ft (2024)
• Thangaraj Nagar Extn: Rs 2,200 per sq.ft (2024)
• Thangaraj Nagar Main Road: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thamarai Street?

The Sub Registrar Office that covers Thamarai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This value is important for both buyers and sellers to understand, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thamarai Street?

The current guideline value of Thamarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Thamarai Street?

Thamarai Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Thamarai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered accurately and helps determine the minimum price for registration.