Guideline Value for Thanikachalam Street

Thanikachalam Street guideline value

The current guideline value of Thanikachalam 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 Thanikachalam Street has changed

The guideline value for Thanikachalam Street has seen several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure then decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision marked an increase to Rs 5,000 per sq.ft, followed by the current value of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 482%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Thanikachalam Street's 2024 guideline value of Rs 5,500 per sq.ft is below this median.

• Thayar Saheb 1st Lane: Rs 7,700 per sq.ft (2024)
• Thayar Saheb 2nd Lane: Rs 7,700 per sq.ft (2024)
• Thayar Saheb Market Lane: Rs 7,700 per sq.ft (2024)
• Thayar Saheb Street: Rs 11,000 per sq.ft (2024)
• Theetharappa Mudali Street: Rs 6,600 per sq.ft (2024)
• Thangavel Vaidyar Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanikachalam Street?

The Sub Registrar Office that covers Thanikachalam Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Triplicane. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value ensures that the transaction is registered at a price that reflects the official valuation of the property.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on the higher amount. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Thanikachalam Street?

The current guideline value of Thanikachalam 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 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 482% over this period.

What is the land classification for Thanikachalam Street?

Thanikachalam Street is classified as Residential Class II Type - I.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Thanikachalam Street located?

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