Guideline Value for THUKKARAM 2ND STREET

Thukkaram 2nd Street guideline value

The current guideline value of Thukkaram 2nd 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 2nd Street has changed

The guideline value for Thukkaram 2nd Street has seen several revisions over the years. In 2002, the value was Rs 1,163 per sq.ft. This increased to Rs 2,000 per sq.ft in 2003, marking a 72% rise. The value then rose by 50% to Rs 3,000 per sq.ft in 2007. Following that, the 2012 revision saw a significant increase to Rs 7,000 per sq.ft, which was a 133% increase. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 7,000 per sq.ft in 2023, followed by the current value of Rs 7,700 per sq.ft in 2024, which reflects a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 562%. The register has no figure for the years between these revisions for Thukkaram 2nd Street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, placing Thukkaram 2nd Street's value below this median.

• Thukkaram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thukkaram 2nd Street?

The Thukkaram 2nd Street is covered by 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 an important factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Thukkaram 2nd Street?

The current guideline value of Thukkaram 2nd 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 increased from Rs 1,163 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 562% over this period.

What is the registration fee for properties in Thukkaram 2nd Street?

The registration fee is calculated at 2% of the guideline value. For a property with a guideline value of Rs 77,00,000, the registration fee would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Thukkaram 2nd Street?

The Sub Registrar Office covering Thukkaram 2nd Street is the Thiyagaraya nagar SRO, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. This ensures that the duty reflects the true value of the property being transacted.