Guideline Value for Therapanth Street

Therapanth Street guideline value

The current guideline value of Therapanth Street in Madambakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Therapanth Street has changed

The guideline value for Therapanth Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, representing a rise of 59% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 7%. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Therapanth Street's 2024 figure is below this median.

• Thirumalai Nagar: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Thambaiya Reddy Colony Main Road: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony Cross Street: Rs 1,600 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Therapanth Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Therapanth Street?

The Sub Registrar Office that covers Therapanth 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, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to 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 correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Therapanth Street?

The current guideline value of Therapanth Street is Rs 1,600 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 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. This represents a decline from 2012 to 2017, followed by a significant increase to the current value.

What is the land classification of Therapanth Street?

Therapanth Street is classified as Residential Class II Type - I, 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 Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.