Guideline Value for Thatchoor Udaiyar 2nd Cross Street

Thatchoor Udaiyar 2nd Cross Street guideline value

The current guideline value of Thatchoor Udaiyar 2nd Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village and falls under the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Thatchoor Udaiyar 2nd Cross Street has changed

The guideline value for Thatchoor Udaiyar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a rise of 43%. However, between 2012 and 2017, the value decreased by 33% to Rs 670 per sq.ft. The subsequent revision in 2023 brought it back to Rs 1,000 per sq.ft, and the latest revision in 2024 maintains this rate, showing no change from the previous year.

For the years 2003 and 2002, the register has no figure for this street. Overall, from 2007 to 2024, there has been a 43% increase in the guideline value, indicating fluctuations in the value over the years.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the 2024 figure for Thatchoor Udaiyar 2nd Cross Street.

• Thatchoor Udaiyar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor School Salai: 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 2nd 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 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 duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thatchoor Udaiyar 2nd Cross Street?

The Sub Registrar Office that covers Thatchoor Udaiyar 2nd 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees applicable on a property transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction complies with the legal requirements. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thatchoor Udaiyar 2nd Cross Street?

The current guideline value of Thatchoor Udaiyar 2nd 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 fluctuated over the years, with the most recent increase being from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and it remains the same in 2024.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Thatchoor Udaiyar 2nd Cross Street is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Thatchoor Udaiyar 2nd Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Thatchoor Udaiyar 2nd Cross Street?

The land classification for Thatchoor Udaiyar 2nd Cross Street is Commercial Class I Type - I.