Guideline Value for Dr.Thirumurthy Nagar 1st Street

Dr.Thirumurthy Nagar 1st Street guideline value

The current guideline value of Dr.Thirumurthy Nagar 1st Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Dr.Thirumurthy Nagar 1st Street has changed

The guideline value for Dr.Thirumurthy Nagar 1st Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,500 per sq.ft in 2012, marking a 183% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 5,695 per sq.ft. The next revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 8,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 9,300 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 210%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Dr.Thirumurthy Nagar 1st Street is above this median.

• Dr.Thirumurthy Nagar 2nd St: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 3rd Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 4th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 5th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 6th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar Main Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Thirumurthy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total cost for these fees to Rs 8,37,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Dr.Thirumurthy Nagar 1st Street?

The Sub Registrar Office covering Dr.Thirumurthy Nagar 1st Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of this value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dr.Thirumurthy Nagar 1st Street?

The current guideline value of Dr.Thirumurthy Nagar 1st Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 210% over the years.

What is the land classification for Dr.Thirumurthy Nagar 1st Street?

The land classification for Dr.Thirumurthy Nagar 1st Street is Commercial Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Chennai Central Joint II Sub Registrar Office covers Dr.Thirumurthy Nagar 1st Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.