Circle Rate in Chennai fixes a minimum value for properties that must be registered in the city. The Tamil Nadu government sets it, which is more popularly known as the guideline value in Chennai. These rates play a crucial role in determining stamp duty and registration charges, directly influencing property transactions across the city. Whether residential or commercial, no property can be registered below the prevailing circle rate in Chennai.
Also called the Ready Reckoner Rate, the circle rate comprises the land’s value and the building constructed on it. A property can be registered at the market value only when higher than the guiding value. Circle Rate in Chennai is a dynamic benchmark. It varies based on property location and other factors. Take an in-depth look at the latest rates in this article. Read on to find the calculation process, area-wise values and other details.
Table of contents
Current Circle Rate in Chennai
The state government increased Chennai’s circle rate up to 10% in July 2024. The latest revision covered 2.19 lakh streets and 4.46 crore subdivisions. Here is the latest Chennai circle rate list:
| Area | Circle Rate per sq. ft. |
| Alandur Road | Rs. 6,100 |
| Okkiyam-Thuraipakkam | Rs. 6,600 |
| Abhiramapuram 3rd street | Rs 17,600 |
| Alikan Street | Rs.4,400 |
| Appavu Street | Rs.4,400 |
| Asakrana Street | Rs.5,000 |
| Bramin Street | Rs.5,000 |
| Dharmaraja Koli Street | Rs.5,000 |
| Eashwaran Koli Street | Rs.5,000 |
| Gandhi Market Commer | Rs.6,600 |
| GST Road/ Mount Road | Rs.11,000 |
| GST Roadsouth Side Lawyer Jagannath Street | Rs.11,000 |
| Gurupax Street | Rs.4,400 |
| Hussain Subedar Street | Rs.4,400 |
| Ibrahim Street | Rs.4,400 |
| Jai Naiken Street | Rs.4,400 |
| Jilani Sayabu Street | Rs.4,400 |
| Kaji Sayabu Street | Rs.4,400 |
| Kambar Street/ Reddy Street | Rs.5,500 |
| Karpaga Vinayagar Koil Street | Rs.5,500 |
| Lawyer Jagannath Street | Rs.5,500 |
| Marisan Street | Rs.4,400 |
| Market Lane | Rs.5,500 |
| Mathavapuram North/ South/ Centre/ East/West Street | Rs.5,000 |
| M.K.N. Road | Rs.6,600 |
| Mukhtamji Street | Rs.5,500 |
| Nathatchupethar Street | Rs.4,400 |
| New Street | Rs.5,500 |
| Reddy Street | Rs.5,500 |
| Sanniyasi Nara Lane | Rs.3,900 |
| Sanniyasi Subedar Street | Rs.5,000 |
| Sowri Street | Rs.5,000 |
| Subba Colony | Rs.5,000 |
| Thaddikara Swamy Street | Rs.5,000 |
| U.V. Samynathan Street | Rs.5,000 |
| Vembuli Subethar Street | Rs.4,400 |
| Vempuli Amman Koil Street | Rs.5,000 |
| Venu Reddy Street | Rs.5,000 |
| Yegambara Dabether Street | Rs.5,000 |
How to Calculate Circle Rate in Chennai?
The circle rate of a property in Chennai is calculated based on the following formula:
Property Value = Circle rate of the area (per sq. m.) x Built-up area (sq . m.)
For example, a property with a built-up area of 1,00 sq. m. in an area with a circle rate set at Rs. 11,000 per sq. m. will have a total value of Rs. 11,00,000. (100 x 11,000)
How Do You Check the Guideline Value of a Property in Chennai?
Guideline values of different areas can be easily checked at the official portal of TNREGINET (Inspector General of Registration (IGRS). Take a look at the required steps below:
Option 1
Source: TNREGINET
- Visit Tamil Nadu’s registration website – https://tnreginet.gov.in/portal/
- In the ‘Guide Value Search’ box, choose from ‘Street’ or ‘Field Number’.
- Enter details like zone, sub registrar’s office, village and street name.
- Click on ‘Submit’.
- The portal will display the circle rate of the selected area on the screen.
Option 2
Source: TNREGINET
- Visit Tamil Nadu’s registration website – https://tnreginet.gov.in/portal/.
- Click on the ‘Guide Value’ option in the menu bar.
- Select the desired date.
- Choose to search by street name, field number or added value.
- Choose ‘Village wise’ or ‘Land Classification Board’ from further options.
- The portal will showcase updated rates of the relevant areas as per the selected date.
Checking Jurisdiction Details
The TNREGINET portal also helps access one’s jurisdiction details. This allows searchers who do not have complete information to check the prevailing circle rates of their areas. Follow these simple steps to check your jurisdiction details online:
Source: TNREGINET
- Visit Tamil Nadu’s registration website – https://tnreginet.gov.in/portal/.
- Go to the ‘Help’ menu, choose ‘Web Home Application Services’ and select ‘Know Your Jurisdiction’.
- Enter ‘Street Name’ or ‘Village Name’.
- Click on ‘Search’.
- The complete details of your area will be displayed on the portal.
Significance of Circle Rate in Chennai
Staying updated with prevailing circle rates is crucial for buying or selling properties. Take a look at how the circle rate in Chennai plays an important role in safeguarding the interests of all stakeholders:
- Planning Property Purchases: The total value of a property in Chennai, its stamp duty and registration charges are all based on prevailing circle rates. Knowing the latest rates thus helps buyers in the financial planning of their property purchases.
- Avoids Undervaluation: By setting a benchmark price, Chennai’s circle rate helps detect undervaluations and other fraudulent practices. It ensures that properties are competitively priced, benefitting both buyers and sellers.
- Tax Implication: If a property is sold below the circle rate, the difference (if over ₹50,000) is taxed as ‘income from other sources’ under Section 56(2)(VII)(B) of the Income Tax Act. This applies when the property is a capital asset, not stock-in-trade, impacting buyers and sellers.
Circle Rate in Chennai: Contact Details
Property buyers can easily contact the TNREGINET portal for any queries related to the circle rate in Chennai. The contact details are provided below:
Phone: 044-24640160
Email: helpdesk@tnreginet[dot]net
Latest News
Take a look at the latest circle rate in Chennai news below:
|
Conclusion
Circle Rate in Chennai is crucial in maintaining transparency in property transactions. It helps ensure fair taxation, curb undervaluation, and reduce black money dealings. These rates are regularly revised based on market conditions, impacting buyers, sellers and government revenues. Property buyers must keep track of these changes. Staying updated with the latest rates can help buyers easily navigate property costs, stamp duty payments and registration obligations.
Circle Rate in Others Cities:
| Circle Rate in Gurgaon | Circle Rate in Lucknow |
| Circle Rate in Faridabad | Circle Rate in Delhi |
| Circle Rate in Mumbai | Circle Rate in Ghaziabad |
FAQ’s about Circle Rate in Chennai
What is the current circle rate in Chennai?
The circle rate varies from one location to another in Chennai. For instance, the rate in Alandur Road is Rs. 6,100/ sq. ft., while the same in Abhiramapuram 3rd Street is Rs. 17,600/ sq. ft. Buyers and sellers can check the latest rates in their area on the TNREGINET portal.
Can a property be purchased below the circle rate in Chennai?
No, a property cannot be legally registered below the prevailing circle rate in Chennai. The Tamil Nadu government states that property transactions must meet or exceed the set guideline value. Undervaluation may lead to reassessment, additional stamp duty, and potential tax liabilities.
What is the process of property mutation in Chennai?
One can apply through the Greater Chennai Corporation (GCC) office or the TNREGINET portal for property mutation in Chennai. Ownership records will be updated after successful document submission, verification and fee payment.
