Guideline Value for Thambu Chetty street IInd segment ( Mookar Nallamuthu Street to P.O. Street Junction)

Thambu Chetty street IInd segment ( Mookar Nallamuthu Street to P.O. Street Junction) guideline value

The current guideline value for Thambu Chetty street IInd segment ( Mookar Nallamuthu Street to P.O. Street Junction) is Rs 15,900 per sq.ft, effective from 1 July 2024. This segment is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Thambu Chetty street IInd segment ( Mookar Nallamuthu Street to P.O. 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 2012, marking a rise of 164%. However, in the 2017 revision, the value dropped to Rs 9,715 per sq.ft, a decrease of 33%. The next revision in 2023 saw a substantial increase to Rs 14,500 per sq.ft, followed by another increase to Rs 15,900 per sq.ft in 2024, which is a rise of 10% from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 189%. The guideline value transitioned from Rs 5,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, reflecting the changes over the years.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Thambu Chetty street IInd segment's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total 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 IInd segment ( Mookar Nallamuthu Street to P.O. Street Junction)?

The Sub Registrar Office that covers Thambu Chetty street IInd 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 crucial factor in property transactions in Muthialpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Thambu Chetty street IInd segment?

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

How much has the guideline value changed from 2007 to 2024?

From the 2007 revision, where the guideline value was Rs 5,500 per sq.ft, to the 2024 revision, the value has increased by 189%, reaching Rs 15,900 per sq.ft.

What is the land classification for Thambu Chetty street IInd segment?

The land classification for Thambu Chetty street IInd segment is Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty rates for properties in Thambu Chetty street IInd segment?

The stamp duty for properties in Thambu Chetty street IInd segment is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations for Thambu Chetty street IInd segment?

The Chennai North Joint I Sub Registrar Office handles property registrations for Thambu Chetty street IInd segment, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.