Guideline Value for Thiyagaraya Street

Thiyagaraya Street guideline value

The current guideline value of Thiyagaraya Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Thiyagaraya Street has changed

The guideline value for Thiyagaraya Street has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value then rose to Rs 700 per sq.ft in 2012, before decreasing to Rs 469 per sq.ft in 2017. The 2023 revision set the value at Rs 700 per sq.ft, and the most recent revision in 2024 has increased it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 350%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is the same as the current guideline value for Thiyagaraya Street.

• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiruvallur Nedunchalai (Upto Bridge): Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 660 per sq.ft (2024)
• Vadivel Nagar: Rs 1,320 per sq.ft (2024)
• Vallalar Street: Rs 770 per sq.ft (2024)
• Thilagar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagaraya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value is Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. 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 Thiyagaraya Street?

The Sub Registrar Office that covers Thiyagaraya Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thiyagaraya Street?

The current guideline value of Thiyagaraya Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 350% over this period.

What are the stamp duty and registration fees for properties on Thiyagaraya Street?

For a 1,000 sq.ft property, the total stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, leading to a total of Rs 69,300.

Which office handles the registration for Thiyagaraya Street?

The Redhills Sub Registrar Office handles the registration for Thiyagaraya Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there other streets with the same guideline value in Padiyanallur?

Yes, there are several other streets in Padiyanallur with the same guideline value of Rs 770 per sq.ft, including Thiruvalluvar Street, Thiruvallur Nedunchalai (Upto Bridge), Vallalar Street, and Thilagar Street.