Guideline Value for Thambiya Reddy Main Road

Thambiya Reddy Main Road guideline value

The current guideline value of Thambiya Reddy Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - II.

How the guideline value of Thambiya Reddy Main Road has changed

The guideline value for Thambiya Reddy Main Road has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,860 per sq.ft, which saw a significant increase to Rs 7,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision marked a further increase to Rs 7,700 per sq.ft, reflecting a 10% rise from the previous year.

Notably, the jump from 2007 to 2012 was substantial at 276%, and the overall increase from 2007 to 2024 is recorded at 314%. There are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Thambiya Reddy Main Road's 2024 figure above that median.

• Thandavagramini Street: Rs 3,300 per sq.ft (2024)
• Thadirathinam Street Block 85: Rs 4,100 per sq.ft (2024)
• Thangavelu Nagar: Rs 3,300 per sq.ft (2024)
• Thanthai Periyar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Swamy Nathan Street: Rs 4,100 per sq.ft (2024)
• S.V. Nagarathinam Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thambiya Reddy Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thambiya Reddy Main Road?

The Sub Registrar Office that covers Thambiya Reddy Main Road is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thambiya Reddy Main Road?

The current guideline value of Thambiya Reddy Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 1,860 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 314% since 2007.

What is the land classification for Thambiya Reddy Main Road?

Thambiya Reddy Main Road is classified as Mixed Type - II under the guideline value register.

Which Sub Registrar Office handles registrations for this area?

The Ashok Nagar Sub Registrar Office manages registrations for Thambiya Reddy Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties on Thambiya Reddy Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at a rate of 7%.