Guideline Value for Dr.Thirumurthy Nagar 3rd Street

Dr.Thirumurthy Nagar 3rd Street guideline value

The current guideline value of Dr.Thirumurthy Nagar 3rd 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 3rd Street has changed

The guideline value for Dr.Thirumurthy Nagar 3rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,500 per sq.ft in 2012, marking a rise of 183%. However, the value then dropped to Rs 5,695 per sq.ft in 2017, reflecting a decrease of 33%. The value further increased to Rs 8,500 per sq.ft in 2023, which was a substantial rise of 49%. The current revision in 2024 has set the guideline value at Rs 9,300 per sq.ft, 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. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Dr.Thirumurthy Nagar 3rd Street's 2024 figure above that median.

• Dr.Thirumurthy Nagar 2nd St: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 4th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Thirumurthy Nagar 3rd Street?

The Sub Registrar Office that covers Dr.Thirumurthy Nagar 3rd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you proceed with a property transaction, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures transparency and helps in maintaining the integrity of property transactions in the region.

Frequently asked questions

What is the current guideline value of Dr.Thirumurthy Nagar 3rd Street?

The current guideline value of Dr.Thirumurthy Nagar 3rd 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 significantly from Rs 3,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 210% over the years.

What are the other streets with the same guideline value in Nungambakkam?

Other streets in Nungambakkam with the same guideline value of Rs 9,300 per sq.ft in 2024 include Dr.Thirumurthy Nagar 1st Street, 2nd Street, 4th Street, 5th Street, and 6th Street.

What is the stamp duty rate for properties in Dr.Thirumurthy Nagar 3rd Street?

The stamp duty rate for properties in Dr.Thirumurthy Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for properties in Dr.Thirumurthy Nagar 3rd Street?

The registration for properties in Dr.Thirumurthy Nagar 3rd Street is handled by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.