Guideline Value for THULUKANAM THOTTAM

Thulukanam Thottam guideline value

The current guideline value of Thulukanam Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Thulukanam Thottam has changed

The guideline value for Thulukanam Thottam has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in the 2023 revision, marking a change of +13%. The 2017 revision recorded a lower value of Rs 1,005 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. Overall, from the 2017 revision to the current 2024 revision, the guideline value has risen by +69%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value are only reflected from the 2017 revision onwards.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Thulukanam Thottam's 2024 figure below this median.

• Thulukkanam Street (Grama Nedunchalai Cross Street): Rs 2,200 per sq.ft (2024)
• Thiruvengadam Street (Grama Nedunchalai 8th Cross Street): Rs 2,200 per sq.ft (2024)
• Thiruvengadam Street: Rs 2,200 per sq.ft (2024)
• Trit Wood Drive Avenue: Rs 4,400 per sq.ft (2024)
• T.S.R.K.D.Holding Canel: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thulukanam Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, these fees would total Rs 1,53,000. 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 Thulukanam Thottam?

The Sub Registrar Office that covers Thulukanam Thottam 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 Sholinganallur - 1

The guideline value is an important factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

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 applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Thulukanam Thottam?

The current guideline value of Thulukanam Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, reflecting a total increase of +69% over this period.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is higher than the current value of Thulukanam Thottam.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Neelankarai Sub Registrar Office?

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