Guideline Value for Thulasinga Chetty Street

Thulasinga Chetty Street guideline value

The current guideline value of Thulasinga Chetty Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of Thulasinga Chetty Street has changed

The guideline value for Thulasinga Chetty Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it to Rs 2,800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 12% from 2023 to 2024, and by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Thulasinga Chetty Street's 2024 figure below that median.

• Velacheri Road (Between Acquatic Complex & Sardarpatel Road): Rs 10,500 per sq.ft (2024)
• Velacheri Road (Between Sardar Patel Road & Anna Salai): Rs 10,500 per sq.ft (2024)
• Thamas Nagar: Rs 2,800 per sq.ft (2024)
• Venkatapuram Slum Residents: Rs 2,800 per sq.ft (2024)
• Taluk Office Road: Rs 10,500 per sq.ft (2024)
• Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasinga Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thulasinga Chetty Street?

The Sub Registrar Office that covers Thulasinga Chetty Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale of a property.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Thulasinga Chetty Street?

The current guideline value of Thulasinga Chetty Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Thulasinga Chetty Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Thulasinga Chetty Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, is responsible for Thulasinga Chetty Street.

What is the land classification for Thulasinga Chetty Street?

Thulasinga Chetty Street is classified as Residential Class V Type - III.