Guideline Value for THULULKANATHAMMAN 5TH STREET

Thululkanathamman 5th Street guideline value

The current guideline value of Thululkanathamman 5th Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thululkanathamman 5th Street has changed

The guideline value for Thululkanathamman 5th Street has seen several revisions since 2002. In 2002, the value was Rs 107 per sq.ft, which increased to Rs 126 per sq.ft in 2003, marking an 18% increase. The value further rose significantly to Rs 400 per sq.ft in 2007, reflecting a 217% increase. By 2012, the value reached Rs 1,800 per sq.ft, a substantial growth of 350% from the previous revision.

However, from 2012 to 2017, the guideline value decreased to Rs 1,206 per sq.ft, which was a decline of 33%. The most recent revision in 2024 shows a guideline value of Rs 1,980 per sq.ft, representing a 64% increase from 2017. It is important to note that the register has no figure for this street for the year 2023.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Thululkanathamman 5th Street's 2024 figure above this median.

• Thululkanathamman 4th Street: Rs 1,980 per sq.ft (2024)
• Thululkanathamman 6th Street: Rs 1,980 per sq.ft (2024)
• Thululkanathamman 3rd Street: Rs 1,980 per sq.ft (2024)
• Thululkanathamman Koil 7 To 10th Street: Rs 1,980 per sq.ft (2024)
• Thululkanathamman 2nd Street: Rs 1,980 per sq.ft (2024)
• Thululkanathamman Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thululkanathamman 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thululkanathamman 5th Street?

The Sub Registrar Office that covers Thululkanathamman 5th Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with regulatory requirements and to determine the costs associated with the property transaction.

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 duties and fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Thululkanathamman 5th Street?

The current guideline value of Thululkanathamman 5th Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 107 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1750%.

Which Sub Registrar Office covers Thululkanathamman 5th Street?

The Chennai South Joint I Sub Registrar Office covers Thululkanathamman 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for a property in this area?

For a property valued at the current guideline value of Rs 1,980 per sq.ft, the total stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600 for a 1,000 sq.ft plot, totaling Rs 1,78,200.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It is used to ensure compliance with legal requirements and to assess the value of the property for taxation purposes.