Guideline Value for Thandair Nagar 7th Street

Thandair Nagar 7th Street guideline value

The current guideline value of Thandair Nagar 7th 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 7th Street has changed

The guideline value for Thandair Nagar 7th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 622 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 93% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and finally, there was an increase of 8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 109%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values 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, placing Thandair Nagar 7th Street's current guideline value below this median.

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

Stamp duty and registration fee for property in Thandair Nagar 7th 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 to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thandair Nagar 7th Street?

The Sub Registrar Office that covers Thandair Nagar 7th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations. This value helps in establishing a fair transaction price and is a key component in the legal documentation required for property registration.

Frequently asked questions

What is the current guideline value of Thandair Nagar 7th Street?

The current guideline value of Thandair Nagar 7th 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 seen several revisions, increasing from Rs 622 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Thandair Nagar 7th Street?

Thandair Nagar 7th Street is classified as Residential Class II Type - I under the guidelines of the Royapuram SRO.

Where can I find the registration office for Thandair Nagar 7th Street?

The registration office for Thandair Nagar 7th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Thandair Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft would incur a stamp duty of Rs 91,000.