Guideline Value for THUKKARAM 1ST STREET

Thukkaram 1st Street guideline value

The current guideline value of Thukkaram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thukkaram 1st Street has changed

The guideline value for Thukkaram 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,767 per sq.ft. This increased to Rs 2,000 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 3,000 per sq.ft in 2007, which was a 50% increase. In 2012, it reached Rs 7,000 per sq.ft, reflecting a significant 133% increase from the previous revision. However, in 2017, the value decreased to Rs 4,690 per sq.ft, showing a decline of 33%. The guideline value further increased to Rs 7,000 per sq.ft in 2023, and finally, it is now Rs 7,700 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 336%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, positioning Thukkaram 1st Street's 2024 figure below this median.

• Thukkaram 2nd Street: Rs 7,700 per sq.ft (2024)
• Thukkaram 3rd Street: Rs 7,700 per sq.ft (2024)
• Thriumalai Pillai Lane: Rs 8,800 per sq.ft (2024)
• Thriumalai Pillai 2nd Street: Rs 13,200 per sq.ft (2024)
• Thiyagaraya Road / Pondy Bazaar: Rs 27,500 per sq.ft (2024)
• Unnamalai Ammal Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thukkaram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total charges Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thukkaram 1st Street?

The Sub Registrar Office that covers Thukkaram 1st Street 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 information.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that are payable at the time of property transfer.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and complies with local regulations. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thukkaram 1st Street?

The current guideline value of Thukkaram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,767 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 336% over this period.

What are the stamp duty and registration fees for property in Thukkaram 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 77,00,000. The stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles the registration for Thukkaram 1st Street?

The registration for Thukkaram 1st Street is handled by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Thukkaram 1st Street?

Thukkaram 1st Street is classified as Residential Class II Type - II, indicating its designation for residential use within the local planning framework.