Guideline Value for Thayumanavar Street

Thayumanavar Street guideline value

The current guideline value of Thayumanavar 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. The land classification for this street is Residential Class I Type - III.

How the guideline value of Thayumanavar Street has changed

The guideline value for Thayumanavar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. However, this figure decreased to Rs 1,005 per sq.ft in the 2017 revision, representing a decline of 33%. The subsequent revision in 2023 increased the guideline value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, 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 equal to the current guideline value of Thayumanavar Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to 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.

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

Which Sub Registrar Office covers Thayumanavar Street?

The Sub Registrar Office that covers Thayumanavar 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thayumanavar Street?

The current guideline value of Thayumanavar 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 seen several revisions, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% rise. From 2012 to 2024, the overall increase is 10% as well.

What are the other streets in Chitlapakkam with the same guideline value?

Several other streets in Chitlapakkam have the same guideline value of Rs 1,650 per sq.ft in 2024, including Thayakar Avenue Ist Street, Thayakar Avenue 5th Street, and others.

How is stamp duty calculated for properties in Thayumanavar Street?

Stamp duty for properties in Thayumanavar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a stamp duty of Rs 1,15,500.

Where can I find the Sub Registrar Office for Thayumanavar Street?

The Sub Registrar Office for Thayumanavar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.