Guideline Value for Thutta Street

Thutta Street guideline value

The current guideline value of Thutta Street is Rs 300 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 Class II Type - III.

How the guideline value of Thutta Street has changed

Since 2002, the guideline value of Thutta Street has seen several revisions. The figures are as follows: in 2002, the value was Rs 70 per sq.ft, which increased to Rs 78 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 150 per sq.ft in 2007, a significant increase of 92%. In 2012, the value again rose to Rs 300 per sq.ft, reflecting a 100% increase. However, from 2017, the value dropped to Rs 201 per sq.ft, which was a decrease of 33%. The value remained at Rs 300 per sq.ft in both 2023 and 2024, indicating no change during these years.

Overall, from 2002 to 2024, the guideline value has increased by 329%. The revisions for the years 2017 and 2023 show a notable increase of 49% between these two years. It is important to note that there are no figures available for revisions in years other than those mentioned.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Thutta Street's 2024 figure at this median value.

• Thulukar Street: Rs 350 per sq.ft (2024)
• Thottakara Street: Rs 500 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 Thutta Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. 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 Thutta Street?

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

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

The guideline value is a crucial factor in the registration of property transactions in Arani. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures compliance with the regulations set forth by the Registration Department. The guideline value helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thutta Street?

The current guideline value of Thutta Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2002 to Rs 300 per sq.ft in 2024, representing a total increase of 329% over the years.

What is the land classification for Thutta Street?

Thutta Street is classified as Residential Class II Type - III under the guidelines set by the registration authorities.

What are the stamp duty and registration fees for a property in Thutta Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,00,000. The stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Thutta Street located?

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