Guideline Value for Tholgapiar Street

Tholgapiar Street guideline value

The current guideline value of Tholgapiar Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Tholgapiar Street has changed

The guideline value for Tholgapiar Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 27%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 17%.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Tholgapiar Street's 2024 guideline value is above this median, indicating a higher valuation compared to many other streets in the area.

• Thiruvalluvar Street (V.V. Nagar): Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Street (Labana Puram): Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Tholgapiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Tholgapiar Street?

The Sub Registrar Office that covers Tholgapiar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during the registration process.

Additionally, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales in the area.

Frequently asked questions

What is the current guideline value of Tholgapiar Street?

The current guideline value of Tholgapiar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Erukancherry?

The Madhavaram Sub Registrar Office handles property registrations for Erukancherry. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Tholgapiar Street?

Tholgapiar Street is classified as Residential Class II Type - I, indicating its suitability for residential development and usage.