Guideline Value for Thandavamurthi Street

Thandavamurthi Street guideline value

The current guideline value of Thandavamurthi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Thandavamurthi Street has changed

The guideline value for Thandavamurthi Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 798 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a 50% rise. In 2012, the value was Rs 4,000 per sq.ft, which represented a significant increase of 233%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. By 2023, the guideline value rose to Rs 4,000 per sq.ft, and the latest revision in 2024 has set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 451%. It is important to note that there is no recorded figure for Thandavamurthi Street in the 2002 revision.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Thandavamurthi Street.

• Thanappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Thandavaraya Pillai Street: Rs 6,000 per sq.ft (2024)
• Thambu Naicken Street: Rs 6,000 per sq.ft (2024)
• Thaiyappa Mudaly Street: Rs 4,400 per sq.ft (2024)
• Thaiyappa Mudaly Lane: Rs 4,400 per sq.ft (2024)
• Teynampet Ramasamy Mudaly Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thandavamurthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thandavamurthi Street?

The Sub Registrar Office that covers Thandavamurthi Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This helps in assessing the financial obligations that both buyers and sellers must fulfill during the transaction process.

Frequently asked questions

What is the current guideline value of Thandavamurthi Street?

The current guideline value of Thandavamurthi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 798 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 451% over the years.

What is the stamp duty rate for property in Thandavamurthi Street?

The stamp duty rate for property transactions in Thandavamurthi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thandavamurthi Street located?

The Sub Registrar Office for Thandavamurthi Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification of Thandavamurthi Street?

Thandavamurthi Street is classified as Residential Class I Type - I under the guideline value register.