Guideline Value for Thilakar Street Extn

Thilakar Street Extn guideline value

The current guideline value of Thilakar Street Extn is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification is Residential Class I Type - I.

How the guideline value of Thilakar Street Extn has changed

The guideline value for Thilakar Street Extn has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 300 per sq.ft, which increased dramatically to Rs 2,400 per sq.ft in the 2012 revision, marking a rise of 700%. However, in the 2017 revision, it decreased to Rs 1,608 per sq.ft, a drop of 33%. The value then rose again to Rs 2,400 per sq.ft in the 2023 revision, and finally to Rs 2,640 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2007 to 2024 is 780%. 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 Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, positioning Thilakar Street Extn above this median with its current value of Rs 2,640 per sq.ft.

• Thilakar Street: Rs 2,640 per sq.ft (2024)
• Thirubana Alvar Street: Rs 1,650 per sq.ft (2024)
• Thirugnana Sampanthar Street: Rs 2,640 per sq.ft (2024)
• Thirumalai Nagar - I,II Street: Rs 1,980 per sq.ft (2024)
• Thayumanavar Street: Rs 2,640 per sq.ft (2024)
• Thirumalisai Alvar Street: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Thilakar Street Extn

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, making the total cost for these fees Rs 2,37,600. It is important to 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 Thilakar Street Extn?

The Sub Registrar Office that covers Thilakar Street Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Perungalathur, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value in order to accurately assess the costs involved in property transactions. This knowledge helps in avoiding any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Thilakar Street Extn?

The current guideline value of Thilakar Street Extn is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the stamp duty rate for property in Thilakar Street Extn?

The stamp duty rate for property transactions in Thilakar Street Extn is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thilakar Street Extn?

The Sub Registrar Office for Thilakar Street Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, with Thilakar Street Extn's current value being above this median.