Guideline Value for Thilakar Street

Thilakar Street guideline value

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

How the guideline value of Thilakar Street has changed

The guideline value for Thilakar Street has seen significant changes over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased dramatically to Rs 2,400 per sq.ft in 2012, marking a rise of 700%. However, in the 2017 revision, the value decreased to Rs 1,608 per sq.ft, reflecting a decline of 33%. The 2023 revision saw a notable increase to Rs 2,400 per sq.ft, and the current 2024 revision has further increased this to Rs 2,640 per sq.ft, which is a rise of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 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 that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, making Thilakar Street's 2024 figure above that median.

• Thilakar Street Extn: 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

For a 1,000 sq.ft plot at the current rate of Rs 2,640 per sq.ft, the guideline value amounts to 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, totaling Rs 2,37,600. It is important to note that 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 details.

Which Sub Registrar Office covers Thilakar Street?

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

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

The guideline value is a crucial factor in property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to legal requirements.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thilakar Street?

The current guideline value of Thilakar Street 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 significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, which is an overall increase of 780%.

What is the median guideline value for streets in Perungalathur?

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

What are the stamp duty rates for properties in Thilakar Street?

The stamp duty rate for properties in Thilakar Street is 7%, calculated on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thilakar Street located?

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