Guideline Value for Thambu Naicken Street

Thambu Naicken Street guideline value

The current guideline value of Thambu Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thambu Naicken Street has changed

The guideline value for Thambu Naicken Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,145 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 5,000 per sq.ft. However, in 2017, the value decreased to Rs 3,350 per sq.ft. The 2023 revision marked a return to Rs 5,000 per sq.ft, followed by the current 2024 revision, which has set the guideline value at Rs 5,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, there was an increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 380%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that Thambu Naicken Street's 2024 figure is below that median.

• Thanappa Chetty Street: Rs 6,600 per sq.ft (2024)
• Thalayari Street: Rs 7,700 per sq.ft (2024)
• Thandavarayan Street: Rs 6,600 per sq.ft (2024)
• Thangavel Vaidyar Street: Rs 5,500 per sq.ft (2024)
• Thanikachalam Street: Rs 5,500 per sq.ft (2024)
• Thayar Saheb 1st Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thambu Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Thambu Naicken Street?

The Sub Registrar Office that covers Thambu Naicken Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty, which is a mandatory fee paid to the government. The registration process ensures that the transaction is legally recognized and protects the rights of both the buyer and seller.

Frequently asked questions

What is the current guideline value of Thambu Naicken Street?

The current guideline value of Thambu Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an increase of 380% over the years.

What are the stamp duty rates for properties in Thambu Naicken Street?

The stamp duty for properties in Thambu Naicken Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Thambu Naicken Street?

The Sub Registrar Office for Thambu Naicken Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What other streets have guideline values in Triplicane?

Other streets in Triplicane include Thanappa Chetty Street, Thalayari Street, Thandavarayan Street, Thangavel Vaidyar Street, Thanikachalam Street, and Thayar Saheb 1st Lane, each with varying guideline values.