Guideline Value for THULUKANAM GARDEN

Thulukanam Garden guideline value

The current guideline value of Thulukanam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Thulukanam Garden has changed

The guideline value for Thulukanam Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023 and further rose to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which means Thulukanam Garden's 2024 figure is below that median.

• Tvs Emerald Hamlet: Rs 10,700 per sq.ft (2024)
• Vai Kund-Sundaram Estate: Rs 1,700 per sq.ft (2024)
• THENDRAL NAGAR to K.C.G.COLLEGE LINK ROAD: Rs 2,200 per sq.ft (2024)
• THENDRAL NAGAR 1st STREET: Rs 2,200 per sq.ft (2024)
• Thendral Nagar: Rs 2,200 per sq.ft (2024)
• Veerapandia Kattabomman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thulukanam Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thulukanam Garden?

The Sub Registrar Office that covers Thulukanam Garden 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 further details.

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

The guideline value is a crucial factor when registering property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Thulukanam Garden?

The current guideline value of Thulukanam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Thulukanam Garden?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Thulukanam Garden?

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

How is the guideline value determined for properties in Karapakkam?

The guideline value is determined based on various factors, including previous revisions and the classification of the land. It serves as a standard for calculating stamp duty and registration fees during property transactions.