Guideline Value for Thennagaram 1st Street

Thennagaram 1st Street guideline value

The current guideline value of Thennagaram 1st Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thennagaram 1st Street has changed

The guideline value for Thennagaram 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and finally, it rose to Rs 950 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2017, there was a notable decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value of Thennagaram 1st Street is below this median.

• Thennagaram 2nd Street: Rs 950 per sq.ft (2024)
• Thennagaram 3rd Street: Rs 950 per sq.ft (2024)
• Thennagaram Street: Rs 950 per sq.ft (2024)
• Thilagar Street: Rs 950 per sq.ft (2024)
• Tejraj colony: Rs 1,300 per sq.ft (2024)
• Thirumangai Mannan Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thennagaram 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 950 per sq.ft, the guideline value would be Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total to Rs 85,500. Please 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 Thennagaram 1st Street?

The Sub Registrar Office that covers Thennagaram 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor in the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted fairly and transparently.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thennagaram 1st Street?

The current guideline value of Thennagaram 1st Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 900 per sq.ft in 2023 to Rs 950 per sq.ft in 2024, a 6% increase. The value decreased from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017 before increasing again in subsequent years.

What is the land classification of Thennagaram 1st Street?

Thennagaram 1st Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Thennagaram 1st 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 9,50,000, the stamp duty would be Rs 66,500 at a rate of 7%.