Guideline Value for Turgai amman street

Turgai amman street guideline value

The current guideline value of Turgai amman street is Rs 102 per sq.ft, effective from 1 July 2024. This street is located in Thandarai village under the Salavakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Turgai amman street has changed

Over the years, the guideline value of Turgai amman street has witnessed significant changes. The 2012 revision set the value at Rs 50 per sq.ft, which then decreased to Rs 33 per sq.ft in 2017. Following this, the value rose sharply to Rs 100 per sq.ft in the 2023 revision, marking a 203% increase from 2017. The current revision for 2024 is Rs 102 per sq.ft, reflecting a 2% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Turgai amman street. Overall, from 2012 to 2024, the guideline value has increased by 104%.

Guideline values in Thandarai

In Thandarai village, there are five streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 102 per sq.ft. The median value among these streets is Rs 101 per sq.ft, making Turgai amman street's current rate above this median.

• Second street: Rs 101 per sq.ft (2024)
• Pillaiyarkovil street: Rs 100 per sq.ft (2024)
• First street: Rs 101 per sq.ft (2024)
• Ambedkar street: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Turgai amman street

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value amounts to Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total to Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

To calculate your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Turgai amman street?

The Sub Registrar Office that covers Turgai amman street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thandarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Turgai amman street?

The current guideline value of Turgai amman street is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2012 to Rs 33 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and currently stands at Rs 102 per sq.ft in 2024.

What are the other streets in Thandarai with guideline values?

Other streets in Thandarai with guideline values include Second street at Rs 101 per sq.ft, Pillaiyarkovil street at Rs 100 per sq.ft, First street at Rs 101 per sq.ft, and Ambedkar street at Rs 102 per sq.ft, all for the year 2024.

What is the stamp duty rate for properties in Turgai amman street?

The stamp duty rate for properties in Turgai amman street is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Turgai amman street?

The Sub Registrar Office for Turgai amman street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.