Guideline Value for Thanthai Periyar Street

Thanthai Periyar Street guideline value

The current guideline value of Thanthai Periyar Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thanthai Periyar Street has changed

The guideline value for Thanthai Periyar Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which then decreased significantly to Rs 353 per sq.ft in 2003, marking a decline of 90%. The value saw a gradual increase to Rs 400 per sq.ft in 2007, followed by a substantial rise to Rs 1,200 per sq.ft in 2012, reflecting a growth of 200%. However, the value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. In 2023, the guideline value was Rs 1,200 per sq.ft, and the most recent revision in 2024 set it at Rs 1,320 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 62%. The register has no figures for revisions in years other than those mentioned.

Guideline values in Naravarikuppam

In 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, with a median value of Rs 1,650 per sq.ft. Thanthai Periyar Street's 2024 figure is below this median.

• Thanthai Periar Cross Street: Rs 1,650 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 Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 Periyar Street?

The Sub Registrar Office that covers Thanthai Periyar Street is the Redhills Sub Registrar Office, located at 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 during property transactions in Naravarikuppam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to comply with local regulations and ensure proper documentation during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. This ensures that all transactions are recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value of Thanthai Periyar Street?

The current guideline value of Thanthai Periyar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a decrease of 62% overall. The most recent revision saw an increase of 10% from Rs 1,200 per sq.ft in 2023.

What are the other streets in Naravarikuppam and their guideline values?

Other streets in Naravarikuppam include Thanthai Periar Cross Street at Rs 1,650 per sq.ft, Subramani Bharathiyar Street and Subramania Bharathiar Cross Street both at Rs 1,870 per sq.ft, Thiru.Vi.Ka. Street at Rs 3,300 per sq.ft, Thirvalluvar Street at Rs 1,650 per sq.ft, and Sri Ram Garden at Rs 2,200 per sq.ft, all for the year 2024.

What is the registration fee for properties on Thanthai Periyar Street?

The registration fee for properties on Thanthai Periyar Street is calculated based on the guideline value. For example, for a property with a guideline value of Rs 13,20,000, the registration fee would be Rs 26,400 at a rate of 2%.

Where can I find the Sub Registrar Office for Thanthai Periyar Street?

The Sub Registrar Office for Thanthai Periyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.