Guideline Value for Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.)

Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.) guideline value

The current guideline value for Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.) is Rs 18,000 per sq.ft, effective from 1 July 2024. This segment is located in Muthialpet village and falls under the Chennai North Joint I SRO, classified as Commercial Special Type - I.

How the guideline value of Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.) has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 7,400 per sq.ft, which increased significantly to Rs 16,500 per sq.ft in 2012, marking a rise of 123%. However, the value then decreased to Rs 11,055 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 16,500 per sq.ft in 2023, and most recently, it has risen to Rs 18,000 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 143%. 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 that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median of Rs 5,500 per sq.ft. Thambu Chetty street Ist segment's 2024 guideline value is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 18,000 per sq.ft, the total guideline value would be Rs 1,80,00,000. The stamp duty at 7% would be Rs 12,60,000, and the registration fee at 2% would be Rs 3,60,000, making the total cost Rs 16,20,000. 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 more details.

Which Sub Registrar Office covers Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.)?

The Thambu Chetty street Ist segment is covered by 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 the property registration process in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated fairly.

When buying or selling property, the guideline value helps both parties understand the official value assigned to the property. This value is essential for tax calculations and legal documentation during the transaction.

Frequently asked questions

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

The current guideline value for Thambu Chetty street Ist segment (N.S.C Bose Road to Mookar Nallamuthu Street street.) is Rs 18,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,400 per sq.ft in 2007 to Rs 18,000 per sq.ft in 2024, reflecting an overall increase of 143% over the years.

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

The land classification for Thambu Chetty street Ist segment is Commercial Special Type - I.

Where can I find the registration office for this street?

The registration office covering Thambu Chetty street Ist segment is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the stamp duty rate for properties in Thambu Chetty street Ist segment?

The stamp duty rate for properties in Thambu Chetty street Ist segment is 7%, calculated on the higher of the guideline value or the sale price.