Guideline Value for Thattara Street

Thattara Street guideline value

The current guideline value of Thattara Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Thattara Street has changed

The guideline value for Thattara Street has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a significant rise of 150%. However, it then decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 500 per sq.ft in 2023, and again rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Thattara Street is below this median.

• Sun City Phase-V: Rs 950 per sq.ft (2024)
• Thiruvalluvar Street: Rs 550 per sq.ft (2024)
• Thiru.vi.ka. Street: Rs 550 per sq.ft (2024)
• Sri Vinayaga Avenue: Rs 550 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 660 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Thattara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 Thattara Street?

The Sub Registrar Office covering Thattara 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 Sholavaram

The guideline value is a critical factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable on property sales.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thattara Street?

The current guideline value of Thattara Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 175% over these years.

Where can I find the registration office for Thattara Street?

The registration office for Thattara Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

What is the land classification for Thattara Street?

Thattara Street is classified as Residential Class III Type - I under the current guidelines.