Guideline Value for Thiruveethian Street

Thiruveethian Street guideline value

The current guideline value for Thiruveethian Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thiruveethian Street has changed

The guideline value for Thiruveethian Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 8,700 per sq.ft, which is an increase of 9% from the 2023 revision of Rs 8,000 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline values for Thiruveethian Street were not recorded in the register for the years mentioned. Therefore, the only available figures are from 2023 and 2024, showing a clear upward adjustment in the guideline value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Thiruveethian Street's 2024 figure below the median.

• Thiruvalluvar Salai: Rs 8,800 per sq.ft (2024)
• Thomaiyappan Street: Rs 8,700 per sq.ft (2024)
• Thiruvalluvar Lane: Rs 8,700 per sq.ft (2024)
• T.T.K.Lane: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Cross Street: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruveethian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiruveethian Street?

The Sub Registrar Office covering Thiruveethian Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO online for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thiruveethian Street?

The current guideline value of Thiruveethian Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thiruveethian Street was Rs 8,000 per sq.ft in 2023 and increased by 9% to Rs 8,700 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Thiruveethian Street's 2024 guideline value is below this median.

What are the stamp duty and registration fees for a property in Thiruveethian Street?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Thiruveethian Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Thiruveethian Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.