Guideline Value for Thayakar Avenue 5th Street

Thayakar Avenue 5th Street guideline value

The current guideline value of Thayakar Avenue 5th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Thayakar Avenue 5th Street has changed

The guideline value for Thayakar Avenue 5th Street has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. This was a decline of 33%. The value then saw a significant increase of 49%, reaching Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 rate.

Guideline values in Chitlapakkam

Chitlapakkam village has 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 guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Thayakar Avenue 5th Street.

• Thayakar Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue Ist Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 2nd Street: Rs 1,650 per sq.ft (2024)
• Thayumanavar Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thayakar Avenue 5th 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 at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thayakar Avenue 5th Street?

The Sub Registrar Office that covers Thayakar Avenue 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as the minimum value at which a property can be registered. Buyers and sellers must consider this value when determining the sale price to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thayakar Avenue 5th Street?

The current guideline value of Thayakar Avenue 5th 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the stamp duty for property in Thayakar Avenue 5th Street?

The stamp duty for property in Thayakar Avenue 5th Street is 7% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would be Rs 1,15,500.

Where is the Sub Registrar Office for Thayakar Avenue 5th Street located?

The Sub Registrar Office for Thayakar Avenue 5th Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used as the minimum value for property registration. It is essential for calculating stamp duty and registration fees during property transactions in Chitlapakkam.