Guideline Value for Theradi Street

Theradi Street guideline value

The current guideline value of Theradi Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Theradi Street has changed

The guideline value for Theradi Street has undergone several revisions over the years. The earliest recorded value was Rs 343 per sq.ft in 2002, which increased to Rs 385 per sq.ft in 2003, marking a change of +12%. The value then saw a significant rise to Rs 1,500 per sq.ft in 2007, reflecting a substantial increase of +290%. Following this, the 2017 revision set the value at Rs 2,345 per sq.ft, a change of +56% from the previous revision.

The most recent revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, representing a +64% increase from the 2017 figure. It is important to note that the register has no figures for Theradi Street for the years 2012 and 2023.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Theradi Street's 2024 figure below that median.

• Thilagar Street: Rs 3,850 per sq.ft (2024)
• Thirumurugan Street: Rs 4,400 per sq.ft (2024)
• Thirumurugan Street/Sakthi Nagar Extension: Rs 4,400 per sq.ft (2024)
• Telugu Brahmin Street: Rs 4,950 per sq.ft (2024)
• Telephone Colony Street, Periyar Nagar: Rs 3,850 per sq.ft (2024)
• Telephone Colony Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Theradi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Theradi Street?

The Sub Registrar Office that covers Theradi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value during the transaction.

Frequently asked questions

What is the current guideline value of Theradi Street?

The current guideline value of Theradi Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 343 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +1022%.

What are the other streets with similar guideline values in Velachery?

Other streets in Velachery with similar guideline values include Thilagar Street and Telephone Colony Street, Periyar Nagar, both at Rs 3,850 per sq.ft in 2024.

What is the registration fee for properties in Theradi Street?

The registration fee for properties in Theradi Street is calculated at 2% of the guideline value, which can vary based on the property's size and value.

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

The Velacheri Sub Registrar Office covers Theradi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.