Guideline Value for Thamarai street(Iyappan nagar extn.)

Thamarai street(Iyappan nagar extn.) guideline value

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

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

The guideline value for Thamarai street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft by 2012. However, it dropped to Rs 1,072 per sq.ft in 2017. The value then rose to Rs 1,600 per sq.ft in 2023 before reaching the current value of Rs 1,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 6%. The most significant change occurred from 2007 to 2012, with a remarkable increase of 300%. Overall, the guideline value has risen by 325% from 2007 to 2024.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Thamarai street's 2024 figure above the median.

• Thamarai street: Rs 1,700 per sq.ft (2024)
• Thamarai Cross 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 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 would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to 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.

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

Which Sub Registrar Office covers Thamarai street(Iyappan nagar extn.)?

The Sub Registrar Office covering Thamarai 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 plays a crucial role in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

When a property is registered, the authorities will assess the guideline value to calculate the fees owed. This ensures that the transaction is compliant with government regulations and helps maintain transparency in property dealings.

Frequently asked questions

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

The current guideline value of Thamarai 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, marking an overall increase of 325% over the years.

What is the land classification for Thamarai street?

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

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

The Sub Registrar Office for Thamarai street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties on Thamarai street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,19,000.