Guideline Value for Thiyagarajan Street

Thiyagarajan Street guideline value

The current guideline value of Thiyagarajan Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thiyagarajan Street has changed

The guideline value for Thiyagarajan Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a 450% rise. However, the value then decreased to Rs 1,474 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show an increase to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,420 per sq.ft in 2024, which is a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 505%. It is important to note that there are no figures available for the years 2002 and 2003 for Thiyagarajan Street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, indicating that Thiyagarajan Street's 2024 figure is below this median.

• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)
• Thiru.Vi.Ka Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar 2nd Street: Rs 2,380 per sq.ft (2024)
• Thoilkapiyam Street: Rs 2,970 per sq.ft (2024)
• Thiru.VI.Ka 1 And 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar & Street: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiyagarajan Street?

The Sub Registrar Office that covers Thiyagarajan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiyagarajan Street?

The current guideline value of Thiyagarajan Street is Rs 2,420 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 400 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 505% over the years.

What is the classification of Thiyagarajan Street?

Thiyagarajan Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.

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

The Sub Registrar Office for Thiyagarajan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Hastinapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,420 per sq.ft, the stamp duty would be calculated accordingly.