Guideline Value for ThoppaiStreet

ThoppaiStreet guideline value

The current guideline value of ThoppaiStreet is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of ThoppaiStreet has changed

The guideline value for ThoppaiStreet has seen significant changes over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012, marking a rise of 275%. However, by 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,800 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, which is equal to the current value of ThoppaiStreet.

• Thottikalai Kumarappa Mudali street: Rs 7,700 per sq.ft (2024)
• Thulasi Naicken street: Rs 4,800 per sq.ft (2024)
• Thiru Vi.ka.NagarExtension: Rs 4,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 9,900 per sq.ft (2024)
• Thirunarayan Guru Road(Hunters Road): Rs 12,100 per sq.ft (2024)
• Uthucattan street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in ThoppaiStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value amounts to Rs 48,00,000. The stamp duty at 7% would be Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total to Rs 4,32,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ThoppaiStreet?

The Sub Registrar Office that covers ThoppaiStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the current valuation of the property.

When a property is registered, the guideline value is used to assess the applicable duties. Buyers should be aware that the charges will be based on either the guideline value or the sale price, whichever is higher, thus emphasizing the importance of understanding the current guideline value in the area.

Frequently asked questions

What is the current guideline value of ThoppaiStreet?

The current guideline value of ThoppaiStreet is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,200 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for ThoppaiStreet?

The land classification for ThoppaiStreet is Residential Class II Type - II.

Where can I find the Sub Registrar Office for ThoppaiStreet?

The Sub Registrar Office for ThoppaiStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in ThoppaiStreet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 48,00,000, the stamp duty at 7% would be Rs 3,36,000.