Guideline Value for Thiyagi Chinnaswamy Street

Thiyagi Chinnaswamy Street guideline value

The current guideline value of Thiyagi Chinnaswamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thiyagi Chinnaswamy Street has changed

The guideline value for Thiyagi Chinnaswamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 2,044 per sq.ft, which decreased to Rs 201 per sq.ft in 2003. Following this, the value increased to Rs 400 per sq.ft in 2007, and further rose to Rs 1,500 per sq.ft in 2012. However, it fell to Rs 1,005 per sq.ft in 2017. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision.

Between the revisions, there were notable changes in the guideline values. From 2002 to 2003, the value dropped by 90%. The value then increased by 99% from 2003 to 2007, followed by a substantial increase of 275% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, from 2002 to 2024, the guideline value has decreased by 19%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Thiyagi Chinnaswamy Street's 2024 figure above that median.

• Thiyagi Sankaralinganar Nadar Street: Rs 1,100 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 1,650 per sq.ft (2024)
• Thiru.Vi.Ka. 1st Street: Rs 1,650 per sq.ft (2024)
• T.K. Bose Nagar: Rs 1,102 per sq.ft (2024)
• T.K.S. Nagar: Rs 1,102 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagi Chinnaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiyagi Chinnaswamy Street?

The Sub Registrar Office that covers Thiyagi Chinnaswamy 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 Puzhal

The guideline value is a crucial factor in property transactions in Puzhal. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers should be aware of the current guideline value to ensure that they are compliant with the regulations set by the Registration Department.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to understand that the fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction.

Frequently asked questions

What is the current guideline value of Thiyagi Chinnaswamy Street?

The current guideline value of Thiyagi Chinnaswamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 2,044 per sq.ft in 2002, decreasing to Rs 201 per sq.ft in 2003, and then fluctuating until it reached Rs 1,650 per sq.ft in 2024.

What is the land classification for Thiyagi Chinnaswamy Street?

The land classification for Thiyagi Chinnaswamy Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thiyagi Chinnaswamy Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Puzhal?

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 guideline value, the total fees can be calculated accordingly.