Guideline Value for Thanthai Periar Cross Street

Thanthai Periar Cross Street guideline value

The current guideline value of Thanthai Periar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thanthai Periar Cross Street has changed

The guideline value for Thanthai Periar Cross Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the increase was 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

Within Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the guideline value of Thanthai Periar Cross Street.

• Thanthai Periyar Street: Rs 1,320 per sq.ft (2024)
• Subramani Bharathiyar Street: Rs 1,870 per sq.ft (2024)
• Subramania Bharathiar Cross Street: Rs 1,870 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 3,300 per sq.ft (2024)
• Thirvalluvar Street: Rs 1,650 per sq.ft (2024)
• Sri Ram Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periar Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanthai Periar Cross Street?

The Sub Registrar Office that covers Thanthai Periar Cross Street is the Redhills Sub Registrar Office, located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. 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 registered, the guideline value is considered to ensure that the transaction is in compliance with the local regulations. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thanthai Periar Cross Street?

The current guideline value of Thanthai Periar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

Which Sub Registrar Office is responsible for registrations in this area?

The Redhills Sub Registrar Office is responsible for property registrations in Thanthai Periar Cross Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Thanthai Periar Cross Street?

Thanthai Periar Cross Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.