Guideline Value for Thatchoor Udaiyar 1st Cross Street

Thatchoor Udaiyar 1st Cross Street guideline value

The current guideline value of Thatchoor Udaiyar 1st Cross Street 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 Udaiyar 1st Cross Street has changed

Looking at the revisions over the years, the guideline value for Thatchoor Udaiyar 1st Cross Street saw its first recorded figure in 2007 at Rs 700 per sq.ft. It then increased to Rs 1,000 per sq.ft in 2012, reflecting a rise of 43%. However, in the following revision in 2017, the value dropped to Rs 670 per sq.ft, which was a decrease of 33%. The value rebounded to Rs 1,000 per sq.ft in 2023, maintaining that figure into the 2024 revision, which saw no change from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 43%. The register has no figures for this street for the years 2002 and 2003.

Guideline values in Panchetty

In Panchetty, there are 46 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which is equal to the guideline value of Thatchoor Udaiyar 1st Cross Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value is 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, making a total of Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thatchoor Udaiyar 1st Cross Street?

The Sub Registrar Office that covers Thatchoor Udaiyar 1st Cross 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 further assistance.

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

The guideline value is an essential factor when buying or selling property in Panchetty, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is registered, the guideline value is used as a benchmark to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, which is vital for local development and infrastructure.

Frequently asked questions

What is the current guideline value of Thatchoor Udaiyar 1st Cross Street?

The current guideline value of Thatchoor Udaiyar 1st Cross Street 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, starting from Rs 700 per sq.ft in 2007, reaching Rs 1,000 in 2012, dropping to Rs 670 in 2017, and then returning to Rs 1,000 in 2023 and 2024.

What is the land classification for Thatchoor Udaiyar 1st Cross Street?

Thatchoor Udaiyar 1st Cross Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thatchoor Udaiyar 1st Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.