Guideline Value for WEST THANDAVARAYAN STREET

West Thandavarayan Street guideline value

The current guideline value of West Thandavarayan Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO and is classified as Residential Class III Type - III.

How the guideline value of West Thandavarayan Street has changed

Over the years, the guideline value of West Thandavarayan Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased dramatically to Rs 5,500 per sq.ft in the 2012 revision, marking a rise of 206%. However, the value then decreased to Rs 3,685 per sq.ft in the 2017 revision, reflecting a decline of 33%. The subsequent 2023 revision raised the value to Rs 5,500 per sq.ft, and the latest 2024 revision has set it at Rs 6,000 per sq.ft, a 9% increase from the previous year.

It is important to note that there are no figures available for West Thandavarayan Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 233% in the guideline value.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing West Thandavarayan Street above this median.

• Yacoob Garden Lane: Rs 4,900 per sq.ft (2024)
• Yacoob Garden Street: Rs 4,900 per sq.ft (2024)
• Waddels Road: Rs 12,100 per sq.ft (2024)
• Vinai Theertha Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Vijaya Vigneswara Koil Lane: Rs 5,500 per sq.ft (2024)
• Vijaya Vigneshwarar Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in West Thandavarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total charges to Rs 5,40,000. 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 detailed calculations based on your specific property details.

Which Sub Registrar Office covers West Thandavarayan Street?

The Sub Registrar Office that covers West Thandavarayan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to calculate applicable stamp duty and registration fees. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value instead.

Frequently asked questions

What is the current guideline value for West Thandavarayan Street?

The current guideline value for West Thandavarayan Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification of West Thandavarayan Street?

West Thandavarayan Street is classified as Residential Class III Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for West Thandavarayan Street?

The Sub Registrar Office for West Thandavarayan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.

What factors determine the stamp duty and registration fees?

The stamp duty and registration fees are determined based on the guideline value of the property or the sale price, whichever is higher. The current rates are 7% for stamp duty and 2% for registration fees.