Guideline Value for Thulasi Street

Thulasi Street guideline value

The current guideline value of Thulasi Street in Menambedu village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Thulasi Street has changed

The guideline value for Thulasi Street has seen several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which later dropped to Rs 1,072 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 1,600 per sq.ft. The most recent revision in 2024 has raised the value further to Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

It is important to note that there are no figures available for Thulasi Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO, with guideline values ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Thulasi Street's 2024 figure above that median.

• Thulukanam Street: Rs 1,700 per sq.ft (2024)
• T.N.E.B. Colony: Rs 1,700 per sq.ft (2024)
• Thiyagarajar Nagar: Rs 1,002 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,001 per sq.ft (2024)
• T.T.P Colony: Rs 1,300 per sq.ft (2024)
• Uthra Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thulasi Street?

The Sub Registrar Office that covers Thulasi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thulasi Street?

The current guideline value of Thulasi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, which is a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What are the guideline values of other streets in Menambedu?

Other streets in Menambedu have varying guideline values. For example, Thulukanam Street and T.N.E.B. Colony both have a guideline value of Rs 1,700 per sq.ft in 2024, while Thiyagarajar Nagar is at Rs 1,002 per sq.ft.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property in Thulasi Street?

Stamp duty for property in Thulasi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at a rate of 7%.