Guideline Value for Thatchoor School Salai

Thatchoor School Salai guideline value

The current guideline value of Thatchoor School Salai is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village, under the Redhills SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Thatchoor School Salai has changed

Over the years, the guideline value for Thatchoor School Salai has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, it dropped to Rs 670 per sq.ft in the 2017 revision before returning to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The overall change from 2007 to 2024 reflects a 43% increase in the guideline value, showing significant fluctuations in the years leading up to the current rate.

Guideline values in Panchetty

Panchetty village has a range of guideline values across its 46 streets under the Redhills SRO, with figures varying from Rs 300 to Rs 1,600 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which aligns with the current value of Thatchoor School Salai.

• Thatchoor Mettu Street: Rs 300 per sq.ft (2024)
• Thatchoor Udaiyar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony Main Street: Rs 300 per sq.ft (2024)
• Thatchoor Udaiyar 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony Eswaran Koil Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony 3rd Cross Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Thatchoor School Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thatchoor School Salai?

The Sub Registrar Office that covers Thatchoor School Salai 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 Panchetty

The guideline value is a crucial factor in property transactions in Panchetty, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting and ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thatchoor School Salai?

The current guideline value of Thatchoor School Salai is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions in 2023 and 2024 both setting it at Rs 1,000 per sq.ft. The value saw a decrease in 2017 to Rs 670 per sq.ft from Rs 1,000 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in Thatchoor School Salai?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Thatchoor School Salai?

The Redhills Sub Registrar Office covers Thatchoor School Salai, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Thatchoor School Salai?

Thatchoor School Salai is classified as Commercial Class I Type - I, indicating its suitability for commercial activities under the local regulations.