Guideline Value for Thomas Street

Thomas Street guideline value

The current guideline value of Thomas Street in Kadaperi village, under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - II.

How the guideline value of Thomas Street has changed

The guideline value for Thomas Street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The revisions for the years 2002 and 2003 have no figures recorded for Thomas Street in the register.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making Thomas Street's 2024 figure of Rs 3,300 per sq.ft notably above this median.

• Thomas West Street: Rs 1,650 per sq.ft (2024)
• Thomas South Street: Rs 1,650 per sq.ft (2024)
• Thiru-vi-ka Ist Street: Rs 1,320 per sq.ft (2024)
• Thiru-vi-ka 3rd Street: Rs 1,320 per sq.ft (2024)
• Thiru-vi-ka 2nd Street: Rs 1,320 per sq.ft (2024)
• Tnhb: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thomas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thomas Street?

The Sub Registrar Office that covers Thomas Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both the buyer and seller adhere to the local regulations.

When a property is registered, the higher of the guideline value or the sale price is taken into account for calculating the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Thomas Street?

The current guideline value of Thomas Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the land classification for Thomas Street?

Thomas Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.

Where is the Sub Registrar Office for Thomas Street located?

The Sub Registrar Office for Thomas Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.