Guideline Value for Theradi street

Theradi street guideline value

The current guideline value of Theradi street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Theradi street has changed

The guideline value for Theradi street has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 525%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. By 2023, the value had increased again to Rs 2,500 per sq.ft, and in the latest revision for 2024, it stands at Rs 2,740 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 585%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Poonthamallee

Poonthamallee village comprises 257 streets under the Poonamallee SRO, with guideline values for 2024 ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Theradi street's 2024 figure above this median.

• Thirumal nagar: Rs 3,250 per sq.ft (2024)
• Thirumal Nagar 1st And 2nd Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 2nd Main Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 3rd Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 4th And 5th Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 6th Cross Street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Theradi street

For a 1,000 sq.ft plot at the current rate of Rs 2,740 per sq.ft, the guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total to Rs 2,46,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are consistent and transparent for buyers and sellers.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Theradi street?

The current guideline value of Theradi street is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, marking an overall increase of 585% over the years.

What are the stamp duty and registration fees for property in Theradi street?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600.

Which Sub Registrar Office covers the area of Theradi street?

The Poonamallee Sub Registrar Office covers Theradi street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Theradi street?

The land classification for Theradi street is Residential Class I Type - I, indicating its designation for residential use.