Guideline Value for Thoppu Street

Thoppu Street guideline value

The current guideline value of Thoppu Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thoppu Street has changed

The guideline value for Thoppu Street has undergone several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and then further rose to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the changes are notable. From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that Thoppu Street's 2024 figure is below this median.

• Thulukanathaman Koil Cross Street: Rs 440 per sq.ft (2024)
• Thulukanathaman Koil Road: Rs 440 per sq.ft (2024)
• Thulukanathaman Koil Street: Rs 440 per sq.ft (2024)
• Thiruvenkadapuram: Rs 1,100 per sq.ft (2024)
• Thiruvengadapuram Second Cross Street: Rs 990 per sq.ft (2024)
• Thiruvengadapuram Extension II: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Thoppu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total cost of Rs 39,600. It is important to note that the duty is charged on either 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 Thoppu Street?

The Sub Registrar Office that covers Thoppu 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vengambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Thoppu Street?

The current guideline value of Thoppu Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Thoppu Street?

Thoppu Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the other streets in Vengambakkam with similar guideline values?

Other streets in Vengambakkam include Thulukanathaman Koil Cross Street, Thulukanathaman Koil Road, and Thulukanathaman Koil Street, all at Rs 440 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Thoppu Street?

The Sub Registrar Office for Thoppu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.