Guideline Value for Thomoorar Street

Thomoorar Street guideline value

The current guideline value of Thomoorar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village under the Tiruvallur Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Thomoorar Street has changed

The guideline value for Thomoorar Street has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease in 2017, with the value dropping to Rs 1,005 per sq.ft. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, followed by the current value of Rs 1,650 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%. Notably, there are no figures available for Thomoorar Street for the years 2002 and 2003 in the register.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median value is Rs 1,100 per sq.ft, making the current value of Thomoorar Street above this median.

• Thulasi nagar: Rs 1,650 per sq.ft (2024)
• T.T.K Street: Rs 1,100 per sq.ft (2024)
• T.V.K Street: Rs 1,100 per sq.ft (2024)
• U.V Saminthaiyyer Street: Rs 1,100 per sq.ft (2024)
• Thirumallai Street: Rs 1,100 per sq.ft (2024)
• Vaishnavi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thomoorar 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, while the registration fee at 2% would be Rs 33,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,48,500. Note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thomoorar Street?

The Sub Registrar Office that covers Thomoorar Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Thomoorar Street?

The current guideline value of Thomoorar 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 from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 725% over this period.

What are the stamp duty and registration fees for properties on Thomoorar 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 Thomoorar Street?

The registration for Thomoorar Street is handled by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees that must be paid during property transactions, serving as a benchmark for the property's value.