Guideline Value for Therkku Cross Street

Therkku Cross Street guideline value

The current guideline value of Therkku Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Therkku Cross Street has changed

The guideline value of Therkku Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 196 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, the value decreased to Rs 2,010 per sq.ft in 2017, before climbing to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +10%. The value surged by +270% from 2003 to 2007, followed by a remarkable +275% rise from 2007 to 2012. However, there was a decline of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1584%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Therkku Cross Street's 2024 figure below that median.

• Thenthirupathi Nagar: Rs 4,900 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 7,100 per sq.ft (2024)
• Suriyaganthi Colony Flats: Rs 7,100 per sq.ft (2024)
• Thiruvalluvar Street & Salai: Rs 8,800 per sq.ft (2024)
• Sundararami Salai: Rs 7,100 per sq.ft (2024)
• Sudharsan Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Therkku Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Therkku Cross Street?

The Sub Registrar Office that covers Therkku Cross Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Therkku Cross Street?

The current guideline value of Therkku Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 196 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1584% over the years.

What are the stamp duty and registration fees for properties in Therkku Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles transactions for Therkku Cross Street?

The Konnur Sub Registrar Office handles transactions for Therkku Cross Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Therkku Cross Street?

Therkku Cross Street is classified as Residential Class III Type - I, indicating its suitability for residential development.