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 2 village, under the Chennai Central Joint I SRO, and is 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, which is an increase of 9% from the 2023 revision of Rs 8,000 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded figure was Rs 8,000 per sq.ft. This indicates a steady increase in the guideline value over the recent years, reflecting the latest adjustment made in 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, positioning 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 rate of Rs 8,700 per sq.ft, the 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, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

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. To learn more about your specific office, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in property transactions in Mylapore Part 2, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

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 recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a 9% increase.

What is the land classification of Thomaiyappan Street?

Thomaiyappan Street is classified as Residential Class I Type - III.

Where can I find the registration office for Thomaiyappan Street?

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

How is the stamp duty calculated for properties in Thomaiyappan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 87,00,000, the stamp duty at 7% would amount to Rs 6,09,000.