Guideline Value for Thatchar Street

Thatchar Street guideline value

The current guideline value of Thatchar Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thatchar Street has changed

The guideline value for Thatchar Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012. However, there was a decrease to Rs 1,206 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 1,800 per sq.ft in 2023, and it has now reached Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 90%. It is important to note that the register has no figures for Thatchar Street for the years 2002 and 2003.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value is Rs 1,900 per sq.ft, which is equal to the current guideline value of Thatchar Street.

• Thimmasamy Dharka 1st Street: Rs 2,200 per sq.ft (2024)
• Thimmasamy Dharka 2nd Street: Rs 2,200 per sq.ft (2024)
• Tank Lane Street: Rs 1,900 per sq.ft (2024)
• Sundara Vinayagar Koil 2nd Street: Rs 1,900 per sq.ft (2024)
• Sundara Vinayagar Koil 2nd Lane: Rs 1,600 per sq.ft (2024)
• Sundara Vinayagar Koil 1st Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thatchar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty, charged at 7%, would be Rs 1,33,000, and the registration fee, charged at 2%, would be Rs 38,000. Together, these fees would total Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thatchar Street?

The Sub Registrar Office covering Thatchar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Thatchar Street?

The current guideline value of Thatchar Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting a total increase of 90% over the years.

What is the land classification for Thatchar Street?

Thatchar Street is classified as Residential Class III Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 19,00,000, leading to specific fees based on this amount.