Guideline Value for Thangavel Vaidyar Street

Thangavel Vaidyar Street guideline value

The current guideline value of Thangavel Vaidyar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thangavel Vaidyar Street has changed

The guideline value for Thangavel Vaidyar Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 710 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, then decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, which was then revised to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 604%. Overall, from 2007 to 2024, the guideline value has increased by 675%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Thangavel Vaidyar Street's 2024 figure below that median.

• Thandavarayan Street: Rs 6,600 per sq.ft (2024)
• Thanappa Chetty Street: Rs 6,600 per sq.ft (2024)
• Thambu Naicken Street: Rs 5,500 per sq.ft (2024)
• Thanikachalam Street: Rs 5,500 per sq.ft (2024)
• Thalayari Street: Rs 7,700 per sq.ft (2024)
• Thayar Saheb 1st Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Vaidyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. 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 Thangavel Vaidyar Street?

The Sub Registrar Office that covers Thangavel Vaidyar Street is the Triplicane 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 Triplicane

The guideline value is a crucial factor during property registration in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations for their property's worth.

Frequently asked questions

What is the current guideline value of Thangavel Vaidyar Street?

The current guideline value of Thangavel Vaidyar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 710 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 675% over this period.

What is the land classification for Thangavel Vaidyar Street?

Thangavel Vaidyar Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which office handles registrations for Thangavel Vaidyar Street?

The Triplicane Sub Registrar Office handles registrations for Thangavel Vaidyar Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.