Guideline Value for Thottakara Street

Thottakara Street guideline value

The current guideline value of Thottakara Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Arani village under the Arani_Tiruvallur SRO and is classified as Residential Special Type - II.

How the guideline value of Thottakara Street has changed

The guideline value for Thottakara Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 93 per sq.ft. This figure increased to Rs 104 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 200 per sq.ft in 2007, representing a 92% increase. In 2012, the guideline value remained at Rs 500 per sq.ft, showing a notable increase of 150% from the previous revision. However, it dropped to Rs 335 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value remained at Rs 500 per sq.ft, with no change. The most recent revision in 2024 again set the value at Rs 500 per sq.ft, indicating no change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 438%.

Guideline values in Arani

Within Arani village, there are 51 streets under the Arani_Tiruvallur SRO that have a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Thottakara Street's 2024 figure of Rs 500 per sq.ft is above this median.

• Thulukar Street: Rs 350 per sq.ft (2024)
• Thutta Street: Rs 300 per sq.ft (2024)
• Vanniyar Street: Rs 300 per sq.ft (2024)
• Thelungu Colony: Rs 200 per sq.ft (2024)
• Tamil Colony: Rs 300 per sq.ft (2024)
• Subramani Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thottakara 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 at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thottakara Street?

The Sub Registrar Office that covers Thottakara Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Arani. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure that they comply with the legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price. The higher amount is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thottakara Street?

The current guideline value of Thottakara 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 changed significantly from Rs 93 per sq.ft in 2002 to Rs 500 per sq.ft in 2024, representing an overall increase of 438% over the years.

What is the land classification for Thottakara Street?

Thottakara Street is classified as Residential Special Type - II under the Arani_Tiruvallur SRO.

What are the registration fees for property in Thottakara Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thottakara Street located?

The Sub Registrar Office for Thottakara Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.