Guideline Value for Thamirabarani Street

Thamirabarani Street guideline value

The current guideline value of Thamirabarani Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Thamirabarani Street has changed

The guideline value of Thamirabarani Street has seen significant changes over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 322 per sq.ft in 2003, reflecting a 14% rise. The value then rose dramatically to Rs 900 per sq.ft in 2007, marking a 180% increase. Following this, in 2012, the value was recorded at Rs 3,500 per sq.ft, which was a 289% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, showing a decline of 33%. However, it rebounded to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an 11% increase from the previous year. The overall change from 2002 to 2024 is an increase of 1283%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Thamirabarani Street.

• Thamarai Street: Rs 3,900 per sq.ft (2024)
• Thagoor Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 6th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thamirabarani Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% amounts to Rs 2,73,000, and the registration fee at 2% is Rs 78,000, totaling Rs 3,51,000. It is important to note that 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 Thamirabarani Street?

The Sub Registrar Office that covers Thamirabarani Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thamirabarani Street?

The current guideline value of Thamirabarani Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1283% over the years.

What is the stamp duty for property on Thamirabarani Street?

The stamp duty for property on Thamirabarani Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,73,000.

Where is the Sub Registrar Office for Thamirabarani Street located?

The Sub Registrar Office for Thamirabarani Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for ensuring that the transaction is recorded accurately and complies with local regulations.