Guideline Value for Thandair Nagar 1st Street

Thandair Nagar 1st Street guideline value

The current guideline value of Thandair Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Thandair Nagar 1st Street has changed

The guideline value for Thandair Nagar 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 622 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a change of +29%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting a significant increase of +62% from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +109%. It is important to note that the register does not have figures for the years 2002, 2003, 2012, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Thandair Nagar 1st Street is below this median.

• Thandair Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Thandair Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Thandair Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Thandair Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Thandair Nagar 7th Street: Rs 1,300 per sq.ft (2024)
• Thandair Nagar Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thandair Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thandair Nagar 1st Street?

The Sub Registrar Office that covers Thandair Nagar 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented and taxed according to the established rates.

It is essential for buyers and sellers to be aware of the current guideline values, as they directly impact the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thandair Nagar 1st Street?

The current guideline value of Thandair Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 622 per sq.ft in 2007 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024, representing an overall increase of +109% from 2007 to 2024.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which means the guideline value for Thandair Nagar 1st Street is below this median.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value or the sale price, whichever is higher. For a plot valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles registrations for Thandair Nagar 1st Street?

The Royapuram Sub Registrar Office handles registrations for Thandair Nagar 1st Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.