Guideline Value for Thambu Chetty Street 4th segment(Mannady Street to Ibrahim Street Junction)

Thambu Chetty Street 4th segment(Mannady Street to Ibrahim Street Junction) guideline value

The current guideline value for Thambu Chetty Street 4th segment (Mannady Street to Ibrahim Street Junction) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Thambu Chetty Street 4th segment(Mannady Street to Ibrahim Street Junction) has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this value decreased to Rs 5,360 per sq.ft in 2017. Following this, there was a substantial increase to Rs 8,000 per sq.ft in 2023, and the current revision for 2024 is Rs 8,800 per sq.ft. The changes from 2017 to 2023 reflect a 49% increase, while the jump from 2023 to 2024 is a 10% rise. The overall change from 2007 to 2024 is an increase of 283%.

The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, placing Thambu Chetty Street 4th segment's 2024 figure above this median.

• Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction): Rs 15,900 per sq.ft (2024)
• Thambu Chetty street IInd segment (Mookar Nallamuthu Street to P.O. Street Junction): Rs 15,900 per sq.ft (2024)
• Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street): Rs 18,000 per sq.ft (2024)
• Thakar Street: Rs 7,100 per sq.ft (2024)
• Thakar lane: Rs 7,100 per sq.ft (2024)
• Tailor lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thambu Chetty Street 4th segment(Mannady Street to Ibrahim Street Junction)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. 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 further calculations.

Which Sub Registrar Office covers Thambu Chetty Street 4th segment(Mannady Street to Ibrahim Street Junction)?

The Sub Registrar Office that covers Thambu Chetty Street 4th segment is the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs.

Frequently asked questions

What is the current guideline value of Thambu Chetty Street 4th segment?

The current guideline value of Thambu Chetty Street 4th segment (Mannady Street to Ibrahim Street Junction) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 283%, rising from Rs 2,300 per sq.ft to the current value of Rs 8,800 per sq.ft.

What was the guideline value in 2017?

In 2017, the guideline value for Thambu Chetty Street 4th segment was Rs 5,360 per sq.ft.

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate applicable for properties in Thambu Chetty Street 4th segment is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Thambu Chetty Street 4th segment is located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.