Guideline Value for Thomas Street

Thomas Street guideline value

The current guideline value of Thomas Street in Konnur village, under the Konnur SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Thomas Street has changed

The guideline value for Thomas Street has seen several revisions over the years. In 2003, the guideline value was Rs 950 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007. Following this, the value surged significantly to Rs 5,500 per sq.ft in 2012, but then dropped to Rs 3,685 per sq.ft in 2017. The value saw a substantial increase to Rs 5,500 per sq.ft in 2023, and most recently, it has risen to Rs 6,000 per sq.ft in the 2024 revision.

From the 2017 to 2023 revision, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Notably, there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 532%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median of Rs 3,800 per sq.ft. Thomas Street's 2024 guideline value of Rs 6,000 per sq.ft is above this median.

• Thiruveethiamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,800 per sq.ft (2024)
• T.V.K. 1 Street: Rs 3,800 per sq.ft (2024)
• T.V.K. IInd, IIIrd, IVth Street: Rs 3,800 per sq.ft (2024)
• T.V.K. Street: Rs 3,800 per sq.ft (2024)
• Valluvar Nagar (Kattuvan Kuttai): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thomas Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in estimating the costs involved in the transaction, including the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thomas Street?

The current guideline value of Thomas Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 950 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 532% over this period.

What is the land classification of Thomas Street?

Thomas Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000.