Guideline Value for Thandavarayan Street

Thandavarayan Street guideline value

The current guideline value of Thandavarayan Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thandavarayan Street has changed

The guideline value for Thandavarayan Street has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. With the 2024 revision, this value increased to Rs 8,700 per sq.ft, marking a change of +9% from the previous year.

As noted, the 2024 guideline value stands at Rs 8,700 per sq.ft, which is below the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO. This indicates that while the value has increased, it remains lower than the median for the area.

Guideline values in Mylapore Part 1

The guideline values for Mylapore Part 1 range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Thandavarayan Street's 2024 guideline value of Rs 8,700 per sq.ft is slightly below this median. Other streets in Mylapore Part 1 include:

• Sundareswarar Koil Street: Rs 8,700 per sq.ft (2024)
• Sundaram Street: Rs 8,700 per sq.ft (2024)
• Sudharsana Iyer Street: Rs 8,700 per sq.ft (2024)
• Thiruvalluvar Lane: Rs 8,700 per sq.ft (2024)
• St.Xavior St: Rs 8,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thandavarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. 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 Thandavarayan Street?

The Sub Registrar Office that covers Thandavarayan Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price to determine the applicable fees. The duty is charged based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thandavarayan Street?

The current guideline value of Thandavarayan Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thandavarayan Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Mylapore Part 1?

The median guideline value for the 333 streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Thandavarayan Street's guideline value is slightly below this median.

What are the stamp duty and registration fees for a property in Thandavarayan Street?

For a 1,000 sq.ft plot at the guideline value of Rs 8,700 per sq.ft, the total guideline value is Rs 87,00,000. The stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Which office do I need to visit for registration in Thandavarayan Street?

The Chennai Central Joint I Sub Registrar Office covers Thandavarayan Street. It is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.