Guideline Value for Thanthai Periyar Street

Thanthai Periyar Street guideline value

The current guideline value of Thanthai Periyar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thanthai Periyar Street has changed

Since the earliest revision in 2003, the guideline value for Thanthai Periyar Street has seen significant changes. The 2003 revision set the value at Rs 160 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 213%. In 2012, the value was revised to Rs 1,500 per sq.ft, reflecting a 200% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft, which was a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 963%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thanthai Periyar Street's 2024 guideline value of Rs 1,700 per sq.ft is below this median.

• Thamarai Kulam Street: Rs 1,100 per sq.ft (2024)
• Syamala Street: Rs 2,200 per sq.ft (2024)
• Thiru Pakkam Link Road: Rs 2,200 per sq.ft (2024)
• Sur.Vi.Vi.Nagar: Rs 2,800 per sq.ft (2024)
• Suriya Garden Main Road: Rs 3,300 per sq.ft (2024)
• Suriya Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration would be Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanthai Periyar Street?

The Sub Registrar Office that covers Thanthai Periyar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government register.

When a property is sold, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and fairness in property transactions, as the guideline value reflects the official rates set by the authorities.

Frequently asked questions

What is the current guideline value of Thanthai Periyar Street?

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

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 160 per sq.ft to Rs 1,700 per sq.ft in 2024, marking an overall increase of 963%.

What is the land classification for Thanthai Periyar Street?

Thanthai Periyar Street is classified as Residential Class III Type - I.

What are the registration fees for property in Thanthai Periyar Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.