Guideline Value for Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction)

Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction) guideline value

The current guideline value for Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction) is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO, classified as Commercial Class I Type - II.

How the guideline value of Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction) has changed

In the 2007 revision, the guideline value was Rs 5,500 per sq.ft. This increased significantly to Rs 14,500 per sq.ft in the 2012 revision, marking a 164% rise. However, in the 2017 revision, the value decreased to Rs 9,715 per sq.ft, a drop of 33%. The value then rose sharply to Rs 14,500 per sq.ft in 2023, followed by a further increase to Rs 15,900 per sq.ft in 2024, reflecting a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 189%.

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

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Thambu Chetty street IIIrd Segment above this median.

• Thambu Chetty Street 4th segment (Mannady Street to Ibrahim Street Junction): Rs 8,800 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 IIIrd Segment (P.O.Street to Mannady street Junction)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, totaling Rs 14,31,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction)?

The Thambu Chetty street IIIrd Segment is covered by the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It determines the minimum value at which a property can be registered, ensuring that the state receives adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair value of the property and aids in negotiations, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value for Thambu Chetty street IIIrd Segment?

The current guideline value for Thambu Chetty street IIIrd Segment (P.O.Street to Mannady street Junction) is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 5,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, marking an overall increase of 189%.

What are the other streets in Muthialpet with their guideline values?

Other streets in Muthialpet under the Chennai North Joint I SRO have varying guideline values. For instance, Thambu Chetty street IInd segment is Rs 15,900 per sq.ft, while Thambu Chetty street Ist segment is Rs 18,000 per sq.ft.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Thambu Chetty street IIIrd Segment is located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find more information by visiting the provided link.