Guideline Value for THANIKASALAM STREET CROSS STREET

Thanikasalam Street Cross Street guideline value

The current guideline value of Thanikasalam Street Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thanikasalam Street Cross Street has changed

The guideline value for Thanikasalam Street Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This value decreased to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. However, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value among these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value of Thanikasalam Street Cross Street.

• Thanikasalam Street: Rs 2,800 per sq.ft (2024)
• Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi): Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikasalam Street Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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.

Which Sub Registrar Office covers Thanikasalam Street Cross Street?

The Sub Registrar Office that covers Thanikasalam Street Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Seevaram. It is used to determine the stamp duty and registration fees applicable on the property transaction. Buyers must ensure that they are aware of the current guideline value to calculate the total costs involved in the registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees are based on a value that reflects the market conditions at the time of the sale.

Frequently asked questions

What is the current guideline value of Thanikasalam Street Cross Street?

The current guideline value of Thanikasalam Street Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Thanikasalam Street Cross Street?

The land classification for Thanikasalam Street Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Thanikasalam Street Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Thanikasalam Street Cross Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.