Guideline Value for Thoppai Vinayagar Koil Street

Thoppai Vinayagar Koil Street guideline value

The current guideline value of Thoppai Vinayagar Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Thoppai Vinayagar Koil Street has changed

The guideline value for Thoppai Vinayagar Koil Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017, before rising again to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft.

Between the revisions, notable changes include an increase of 100% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. From 2017 to 2023, the value rose significantly by 49%, and the current increase from 2023 to 2024 is 8%. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that Thoppai Vinayagar Koil Street's 2024 figure is below this median.

• T.H.Road 1st Lane: Rs 3,300 per sq.ft (2024)
• T.H. Road (Cemetry Road - Mint Manigoondu to H.1 Police Station): Rs 6,600 per sq.ft (2024)
• T.H. Road (Cemetry to Cholra Hospital): Rs 6,600 per sq.ft (2024)
• T.H.Road (Chalra Hospital to Tolgate Bus Terminus): Rs 6,600 per sq.ft (2024)
• Throupathy Amman Koil Lane: Rs 1,300 per sq.ft (2024)
• Thulasingam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thoppai Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thoppai Vinayagar Koil Street?

The Sub Registrar Office that covers Thoppai Vinayagar Koil Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable duties and fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. It is important for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thoppai Vinayagar Koil Street?

The current guideline value of Thoppai Vinayagar Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the land classification of Thoppai Vinayagar Koil Street?

Thoppai Vinayagar Koil Street is classified as Residential Class II Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thoppai Vinayagar Koil Street located?

The Sub Registrar Office for Thoppai Vinayagar Koil Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.