Guideline Value for Thomas West Street

Thomas West Street guideline value

The current guideline value of Thomas West Street in Kadaperi village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Thomas West Street has changed

The guideline value for Thomas West Street has seen several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, reflecting a rise of 67%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The following revision in 2023 raised the figure to Rs 1,500 per sq.ft, which was then increased to Rs 1,650 per sq.ft in 2024, marking a 10% rise.

It is important to note that the register has no figures for Thomas West Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 83%.

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 value is Rs 1,650 per sq.ft, which aligns with the current figure for Thomas West Street.

• Thomas Street: Rs 3,300 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thomas West Street?

The Sub Registrar Office that covers Thomas West 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 crucial factor when registering property transactions in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thomas West Street?

The current guideline value of Thomas West Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 900 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the land classification for Thomas West Street?

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

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Thomas West Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Thomas West Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.