Guideline Value for Thulasingam Street

Thulasingam Street guideline value

The current guideline value of Thulasingam Street in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet SRO and is classified as Residential Class I Type - I.

How the guideline value of Thulasingam Street has changed

The guideline value of Thulasingam Street has seen significant changes over the years. In 2003, the guideline value was Rs 797 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 51% rise. This was followed by a substantial jump to Rs 4,000 per sq.ft in 2012, reflecting a 233% increase. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 452%. It is important to note that the register has no figure for Thulasingam Street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, making Thulasingam Street's 2024 figure equal to this median.

• Thulasingam Lane: Rs 4,400 per sq.ft (2024)
• Thiyagarapillai Lane: Rs 4,900 per sq.ft (2024)
• Thiruvengada Narayanan Street: Rs 4,900 per sq.ft (2024)
• Trivelan Basin South Street: Rs 6,000 per sq.ft (2024)
• Trivelan Basin Street: Rs 6,000 per sq.ft (2024)
• Vadamalai Maistry 1st Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thulasingam Street?

The Sub Registrar Office that covers Thulasingam Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, in the Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. It is essential to note that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that all parties are treated fairly during the registration process.

Frequently asked questions

What is the current guideline value of Thulasingam Street?

The current guideline value of Thulasingam Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 797 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 452% over the years.

What are the stamp duty and registration fees for properties on Thulasingam Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,96,000.

Which Sub Registrar Office covers Thulasingam Street?

The Sowcarpet Sub Registrar Office covers Thulasingam Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What other streets have guideline values in Muthiyalpet?

Other streets in Muthiyalpet include Thulasingam Lane, Thiyagarapillai Lane, Thiruvengada Narayanan Street, Trivelan Basin South Street, Trivelan Basin Street, and Vadamalai Maistry 1st Lane, each with their respective guideline values for 2024.