Guideline Value for Thayakar Avenue Ist Street

Thayakar Avenue Ist Street guideline value

The current guideline value of Thayakar Avenue Ist 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, and is classified as Residential Class I Type - III.

How the guideline value of Thayakar Avenue Ist Street has changed

The guideline value for Thayakar Avenue Ist Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. Following this, the 2023 revision increased it to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Thayakar Avenue Ist Street.

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

Stamp duty and registration fee for property in Thayakar Avenue Ist 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, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thayakar Avenue Ist Street?

The Sub Registrar Office that covers Thayakar Avenue Ist 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 plays a crucial role in the registration process 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 the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and that the government receives its due revenue from property sales.

Frequently asked questions

What is the current guideline value of Thayakar Avenue Ist Street?

The current guideline value of Thayakar Avenue Ist 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 Ist Street?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Thayakar Avenue Ist Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Thayakar Avenue Ist Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.