Guideline Value for Thulukar Street

Thulukar Street guideline value

The current guideline value of Thulukar Street in Arani village, under the Arani_Tiruvallur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Thulukar Street has changed

The guideline value of Thulukar Street has seen several revisions over the years. In the 2002 revision, the value was Rs 68 per sq.ft, which increased to Rs 76 per sq.ft in 2003. Subsequently, the value rose significantly to Rs 150 per sq.ft in 2007, and then to Rs 350 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 234 per sq.ft. The value then increased to Rs 350 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 415%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 600 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Thulukar Street's 2024 value above that median.

• Thutta Street: Rs 300 per sq.ft (2024)
• Thottakara Street: Rs 500 per sq.ft (2024)
• Vanniyar Street: Rs 300 per sq.ft (2024)
• Thelungu Colony: Rs 200 per sq.ft (2024)
• Tamil Colony: Rs 300 per sq.ft (2024)
• Subramani Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thulukar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, making the total cost for these fees Rs 31,500. 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 more details.

Which Sub Registrar Office covers Thulukar Street?

The Sub Registrar Office that covers Thulukar Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Arani. It serves as a benchmark for determining the value of the property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thulukar Street?

The current guideline value of Thulukar Street is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 68 per sq.ft in 2002 to Rs 350 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, where it rose from Rs 150 to Rs 350 per sq.ft.

What is the median guideline value for streets in Arani?

The median guideline value for the 51 streets in Arani is Rs 300 per sq.ft. Thulukar Street's current value is above this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at a rate of 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 350 per sq.ft, the total fees would amount to Rs 31,500.

Where is the Sub Registrar Office for Thulukar Street located?

The Sub Registrar Office for Thulukar Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.