Guideline Value for Thanthoniamman Koil Street

Thanthoniamman Koil Street guideline value

The current guideline value of Thanthoniamman Koil Street is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Thanthoniamman Koil Street has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 50 per sq.ft, which increased dramatically to Rs 750 per sq.ft in 2012, marking a rise of 1400%. However, by 2017, the value dropped to Rs 502 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 750 per sq.ft in 2023, and subsequently increased by 11% to reach the current value of Rs 830 per sq.ft in 2024.

Looking at the more recent revisions, the guideline value increased from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, which is a substantial rise of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 1560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the guideline value of Thanthoniamman Koil Street. Below are some other streets in Padappai:

• Thavan Nagar: Rs 830 per sq.ft (2024)
• Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)
• Thiru.Subramani Nagar: Rs 830 per sq.ft (2024)
• Sundar Nagar: Rs 830 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 830 per sq.ft (2024)
• Sumathi Nagar S.No.320/4, 4a(Part): Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthoniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total cost for these fees to Rs 74,700. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanthoniamman Koil Street?

The Sub Registrar Office that covers Thanthoniamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Padappai. It serves as a benchmark for determining the minimum value of a property for registration purposes. This value is used to calculate the stamp duty and registration fees that buyers must pay at the time of registration.

When a property is sold, the sale price must be at least equal to the guideline value to ensure compliance with local regulations. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being registered.

Frequently asked questions

What is the current guideline value of Thanthoniamman Koil Street?

The current guideline value of Thanthoniamman Koil Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, marking an overall increase of 1560%.

What is the land classification for Thanthoniamman Koil Street?

Thanthoniamman Koil Street falls under the land classification of Residential Class III Type - I.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What fees are associated with buying property in Thanthoniamman Koil Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value, which is Rs 830 per sq.ft for this street.