Guideline Value for Thomaiyappan Street

Thomaiyappan Street guideline value

The current guideline value of Thomaiyappan Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Thomaiyappan Street has changed

The guideline value for Thomaiyappan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, an increase of 9% from the 2023 figure of Rs 8,000 per sq.ft. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. The historical data indicates that there are no recorded figures for Thomaiyappan Street for the years mentioned above.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Thomaiyappan Street's 2024 figure below this median.

• Thiruveethian Street: Rs 8,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 8,800 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)
• TTK Road 2nd Cross Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thomaiyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thomaiyappan Street?

The Sub Registrar Office that covers Thomaiyappan 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 more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor during property transactions in Mylapore Part 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the applicable stamp duty and registration fees.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thomaiyappan Street?

The current guideline value of Thomaiyappan Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for properties in Thomaiyappan Street?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Thomaiyappan Street?

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

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Thomaiyappan Street's 2024 guideline value is below this median.