Guideline Value for THANIKACHALAM ROAD

Thanikachalam Road guideline value

The current guideline value of Thanikachalam Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village under the Thiyagaraya nagar SRO, and it is classified as Commercial Special Type - III.

How the guideline value of Thanikachalam Road has changed

Over the years, the guideline value of Thanikachalam Road has seen significant changes. In 2002, the guideline value was Rs 2,626 per sq.ft, which increased to Rs 3,200 per sq.ft in 2003, marking a 22% rise. By 2007, it had further increased to Rs 4,000 per sq.ft, reflecting a 25% growth. The value then jumped dramatically to Rs 16,000 per sq.ft in 2012, a remarkable 300% increase. However, it decreased to Rs 10,720 per sq.ft in 2017, indicating a 33% decline. The value then rose to Rs 16,000 per sq.ft in 2023, and most recently, it has reached Rs 17,600 per sq.ft in 2024, showing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2002 to 2024, the guideline value has risen by 570%. It is important to note that the register has no figures for the years between these revisions.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing the 2024 guideline value of Thanikachalam Road above this median.

• Thanjavur Road: Rs 11,000 per sq.ft (2024)
• Thangavalu Street: Rs 6,600 per sq.ft (2024)
• Thiagaraya Grammani Street: Rs 8,800 per sq.ft (2024)
• Thilak Street: Rs 11,000 per sq.ft (2024)
• Thilak Street Extension: Rs 17,600 per sq.ft (2024)
• Thirumalai Pillai 1st Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, while the registration fee at 2% would be Rs 3,52,000. Together, the total cost for these fees would be Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thanikachalam Road?

The Sub Registrar Office that covers Thanikachalam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thanikachalam Road?

The current guideline value of Thanikachalam Road is Rs 17,600 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 2,626 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 570% over this period.

What is the land classification for Thanikachalam Road?

Thanikachalam Road is classified as Commercial Special Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Thanikachalam Road?

The Sub Registrar Office for Thanikachalam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 15,84,000.