Guideline Value for Thayakar Avenue

Thayakar Avenue guideline value

The current guideline value of Thayakar Avenue 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Thayakar Avenue has changed

The guideline value for Thayakar Avenue has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, the value saw a significant increase to Rs 1,500 per sq.ft in 2023, and then it rose again to the current value of Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Thayakar Avenue.

• Thayakar Avenue 2nd Street: 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

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 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 detailed calculations.

Which Sub Registrar Office covers Thayakar Avenue?

The Sub Registrar Office that covers Thayakar Avenue is 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 SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thayakar Avenue?

The current guideline value of Thayakar Avenue 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 1,650 per sq.ft in 2024, reflecting a 10% increase overall. Notably, there was a significant rise from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

What are the stamp duty and registration fees for properties on Thayakar Avenue?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Thayakar Avenue?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Thayakar Avenue. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Thayakar Avenue?

Thayakar Avenue falls under the Residential Class I Type - III land classification, which is important for understanding the zoning and usage regulations in the area.