Guideline Value for THANIKASALAM STREET

Thanikasalam Street guideline value

The current guideline value of Thanikasalam Street in Seevaram village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Thanikasalam Street has changed

The guideline value of Thanikasalam Street has seen several revisions over the years. In 2002, the value was Rs 154 per sq.ft, which increased to Rs 170 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, an increase of 135%. The 2012 revision saw a drop to Rs 2,500 per sq.ft, a decrease of 525% from the previous figure. The value then rose to Rs 1,675 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 2,500 per sq.ft, before the most recent increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,718%. There are no figures available for the revisions in years not mentioned above.

Guideline values in Seevaram

In Seevaram village, 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 is Rs 2,800 per sq.ft, which is equal to the guideline value of Thanikasalam Street.

• Thanikasalam Street Cross 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total costs would be Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanikasalam Street?

The Thanikasalam Street is covered by 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 details.

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

The guideline value is a critical factor during property registration in Seevaram. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. It ensures that the property is registered at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Thanikasalam Street?

The current guideline value of Thanikasalam 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 154 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,718% over the years.

What is the land classification for Thanikasalam Street?

Thanikasalam Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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