Guideline Value for Thamarai Kulam Street

Thamarai Kulam Street guideline value

The current guideline value of Thamarai Kulam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thamarai Kulam Street has changed

The guideline value for Thamarai Kulam Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. This was a drop of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for Thamarai Kulam Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thamarai Kulam Street's current guideline value is below this median.

• Thanthai Periyar Street: Rs 1,700 per sq.ft (2024)
• Syamala Street: Rs 2,200 per sq.ft (2024)
• Sur.Vi.Vi.Nagar: Rs 2,800 per sq.ft (2024)
• Suriya Garden Main Road: Rs 3,300 per sq.ft (2024)
• Suriya Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Suriya Garden 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Kulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Thamarai Kulam Street?

The Thamarai Kulam Street falls under the jurisdiction of 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 Neelankarai

The guideline value plays a crucial role in property transactions in Neelankarai. It serves as a benchmark for determining the value of properties during registration. Buyers and sellers must consider this value as it influences the stamp duty and registration fees applicable to the transaction.

When a property is bought or sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee paid to the government. This ensures that the transaction is officially recorded, and the property is legally recognized under the new ownership.

Frequently asked questions

What is the current guideline value of Thamarai Kulam Street?

The current guideline value of Thamarai Kulam Street 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 back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Neelankarai and their guideline values?

Other streets in Neelankarai include Thanthai Periyar Street at Rs 1,700 per sq.ft, Syamala Street at Rs 2,200 per sq.ft, Sur.Vi.Vi.Nagar at Rs 2,800 per sq.ft, and several streets in Suriya Garden at Rs 3,300 per sq.ft.

What fees are associated with buying property in Thamarai Kulam Street?

When buying property, fees include stamp duty at 7% of the guideline value and a registration fee at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 99,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Thamarai Kulam Street?

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