Guideline Value for Thanikachalam Nagar

Thanikachalam Nagar guideline value

The current guideline value of Thanikachalam Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village, under the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of Thanikachalam Nagar has changed

In the 2007 revision, the guideline value was Rs 200 per sq.ft. This increased to Rs 500 per sq.ft in the 2012 revision, marking a 150% rise. The value remained at Rs 500 per sq.ft until the 2023 revision, where it was updated to Rs 1,000 per sq.ft, showing a 100% increase from the previous revision.

With the latest 2024 revision, the guideline value remains at Rs 1,000 per sq.ft, indicating no change from the 2023 figure. The overall change from the 2007 revision to the 2024 revision is a significant increase of 400%.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Thanikachalam Nagar's 2024 figure below this median.

• T.G. Swamy Nagar: Rs 1,004 per sq.ft (2024)
• Suyambulingam Nagar Annex - 3: Rs 1,006 per sq.ft (2024)
• Suyambulingam Nagar Annex - 1: Rs 1,006 per sq.ft (2024)
• Suyambulingam Nagar Anex: Rs 1,006 per sq.ft (2024)
• Sumangali Nagar: Rs 1,006 per sq.ft (2024)
• Sri Vetri Nagar Extn.: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanikachalam Nagar?

The Sub Registrar Office that covers Thanikachalam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Thanikachalam Nagar?

The current guideline value of Thanikachalam Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a total increase of 400% over the years.

What is the land classification of Thanikachalam Nagar?

Thanikachalam Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thanikachalam Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where can I find the Sub Registrar Office for Thanikachalam Nagar?

The Sub Registrar Office for Thanikachalam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.