Guideline Value for Thayakar Avenue 2nd Street

Thayakar Avenue 2nd Street guideline value

The current guideline value of Thayakar Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Thayakar Avenue 2nd Street has changed

The guideline value for Thayakar Avenue 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Thayakar Avenue 2nd Street.

• Thayakar Avenue: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 5th Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue Ist Street: Rs 1,650 per sq.ft (2024)
• Thayumanavar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thayakar Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thayakar Avenue 2nd Street?

The Thayakar Avenue 2nd Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price to ascertain the applicable duties. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Thayakar Avenue 2nd Street?

The current guideline value of Thayakar Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Thayakar Avenue 2nd Street?

Thayakar Avenue 2nd Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Thayakar Avenue 2nd Street?

The Sub Registrar Office covering Thayakar Avenue 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Thayakar Avenue 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.