Guideline Value for Thiruveethian Street

Thiruveethian Street guideline value

The current guideline value of Thiruveethian Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 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 undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, reflecting a change of +9%.

In summary, the current guideline value of Rs 8,700 per sq.ft represents an increase from the previous year's value of Rs 8,000 per sq.ft. The 2024 figure is below the median guideline value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values, with figures for 2024 varying from Rs 4,400 to Rs 25,300 per sq.ft. Thiruveethian Street's guideline value is Rs 8,700 per sq.ft, which is below the median of Rs 8,800 per sq.ft. Below are other streets in Mylapore Part 2 with their respective 2024 guideline values:

• 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 rate of Rs 8,700 per sq.ft, the guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruveethian Street?

The Sub Registrar Office that covers 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 for additional information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the stamp duty and registration fees applicable to the transaction. This ensures that all parties are aware of the financial implications of the property transfer.

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 much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a change of +9%.

What is the land classification for Thiruveethian Street?

Thiruveethian Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Thiruveethian Street?

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

How is stamp duty calculated for properties in Thiruveethian Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would amount to Rs 6,09,000, along with a registration fee of Rs 1,74,000.