Guideline Value for Thanthai Periyar Nagar Ottravadai St.,

Thanthai Periyar Nagar Ottravadai St., guideline value

The current guideline value of Thanthai Periyar Nagar Ottravadai St., located in Tharamani village, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification. The street is registered with the Adayar Sub Registrar Office (SRO).

How the guideline value of Thanthai Periyar Nagar Ottravadai St., has changed

The guideline value for Thanthai Periyar Nagar Ottravadai St. has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. Thanthai Periyar Nagar Ottravadai St.'s 2024 figure is below this median.

• Thanthai Periyar Nagar Pattukottai Alagagiri St.,: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar Muthumariamman Koil St: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar Ramasamy Street: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar Rani Ammal Street: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar Kennedy Street: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar Kattabomman St.,: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periyar Nagar Ottravadai St.,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Thanthai Periyar Nagar Ottravadai St.,?

The Sub Registrar Office that covers Thanthai Periyar Nagar Ottravadai St. is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is considered to ensure compliance with legal requirements. Buyers should be aware that the duty is applied to the higher of the guideline value or the sale price, which can significantly affect the overall costs involved in a transaction.

Frequently asked questions

What is the current guideline value of Thanthai Periyar Nagar Ottravadai St.?

The current guideline value of Thanthai Periyar Nagar Ottravadai St. is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Thanthai Periyar Nagar Ottravadai St.?

Thanthai Periyar Nagar Ottravadai St. is classified as Residential Class III Type - I.

Which office handles registrations for this area?

The Adayar Sub Registrar Office handles registrations for Thanthai Periyar Nagar Ottravadai St., located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.