Guideline Value for Thanikachalam Street

Thanikachalam Street guideline value

The current guideline value of Thanikachalam Street in Grandlyon village is Rs 660 per sq.ft, effective from the 2024 revision. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Thanikachalam Street has changed

The guideline value for Thanikachalam Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it decreased to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 600 per sq.ft, and the most recent 2024 revision increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have figures listed in the register for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with the median being Rs 660 per sq.ft. Thanikachalam Street's 2024 figure aligns with this median.

• TamilNadu Dyes and Chemicals Merchants Association Nagar: Rs 660 per sq.ft (2024)
• Swasthik Nagar: Rs 440 per sq.ft (2024)
• Thiruneelagandan Nagar: Rs 440 per sq.ft (2024)
• Thiruneelakandar fourth Part: Rs 660 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. 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 information.

Which Sub Registrar Office covers Thanikachalam Street?

Thanikachalam Street is covered by 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 Grandlyon

The guideline value is a crucial factor in property transactions in Grandlyon, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a fair value, which is essential for legal and financial purposes. It is vital for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thanikachalam Street?

The current guideline value of Thanikachalam Street is Rs 660 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

Where can I find the registration office for Thanikachalam Street?

The Redhills Sub Registrar Office covers Thanikachalam Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

What is the land classification for Thanikachalam Street?

Thanikachalam Street is classified as Residential Class II Type - I, which indicates its designation for residential use.