Guideline Value for THEERAN CHINNA MALAI STREET

Theeran Chinna Malai Street guideline value

The current guideline value of Theeran Chinna Malai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Theeran Chinna Malai Street has changed

The guideline value for Theeran Chinna Malai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then saw a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Theeran Chinna Malai Street's 2024 figure above that median.

• THENMALAI NAGAR 1st ROAD: Rs 1,320 per sq.ft (2024)
• THENMALAI NAGAR 2nd CROSS STREET: Rs 1,320 per sq.ft (2024)
• Thanthai Periyar Kamaraj Street: Rs 1,650 per sq.ft (2024)
• Thanthai Periyar Avvaiyar Street: Rs 1,650 per sq.ft (2024)
• Thanks Nagar: Rs 1,320 per sq.ft (2024)
• Theradi Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Theeran Chinna Malai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Theeran Chinna Malai Street?

Theeran Chinna Malai Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Theeran Chinna Malai Street?

The current guideline value of Theeran Chinna Malai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Theeran Chinna Malai Street?

The land classification for Theeran Chinna Malai Street is Residential Class II Type - I.

Where is the Sub Registrar Office located for Theeran Chinna Malai Street?

The Sub Registrar Office for Theeran Chinna Malai Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with Theeran Chinna Malai Street's 2024 figure of Rs 2,200 per sq.ft being above this median.