Guideline Value for Thornas Street

Thornas Street guideline value

The current guideline value of Thornas Street in Molachoor village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Thornas Street has changed

The guideline value for Thornas Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision saw a drop to Rs 335 per sq.ft, marking a decrease of 33% from the 2012 figure. From 2017 to 2023, the value increased by 49%, returning to Rs 500 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 500 per sq.ft, reflecting no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Thornas Street's 2024 figure is below this median.

• Thiruvalluvar Street: Rs 600 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road (Up to Anthaiya Naidu Nagar): Rs 1,800 per sq.ft (2024)
• Thiruvallur Road (Palkara Street To Arinjar Anna Street): Rs 2,000 per sq.ft (2024)
• Vadivambal Nagar: Rs 600 per sq.ft (2024)
• VallaKottai Murugan Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Thornas Street

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, totaling Rs 35,000, and the registration fee is 2%, which is Rs 10,000. Together, the total cost for stamp duty and registration fee amounts to Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thornas Street?

The Sub Registrar Office that covers Thornas Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Molachoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees that are applicable during the transaction.

When registering a property, the guideline value serves as a baseline for calculating the taxes and fees involved. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Thornas Street?

The current guideline value of Thornas Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a drop to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023. The 2024 revision also maintains this value.

What is the classification of land on Thornas Street?

Thornas Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property at Rs 500 per sq.ft incurs a total of Rs 45,000 in fees.

Which office is responsible for property registration in Molachoor?

The Sunguvarchattram Sub Registrar Office is responsible for property registration in Molachoor, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company.