Guideline Value for THIPPU JAYANTHI NAGAR (2)

Thippu Jayanthi Nagar (2) guideline value

The current guideline value of Thippu Jayanthi Nagar (2) is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Melsingilimedu village and falls under the Thiruvottiyur SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Thippu Jayanthi Nagar (2) has changed

The guideline value for Thippu Jayanthi Nagar (2) has seen significant changes over the years. In 2002, the value was Rs 18 per sq.ft, which increased to Rs 29 per sq.ft in 2003, marking a 61% rise. By 2007, the value surged to Rs 50 per sq.ft, which was a 72% increase. The 2012 revision saw a dramatic jump to Rs 300 per sq.ft, reflecting a 500% increase. However, in 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value then rose again to Rs 300 per sq.ft in 2023, before reaching the current rate of Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1733%. There are no figures available for the years between these revisions for this street.

Guideline values in Melsingilimedu

In Melsingilimedu, there are 14 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 880 per sq.ft. The median value is Rs 330 per sq.ft, which is the same as the 2024 figure for Thippu Jayanthi Nagar (2).

• Thippu Jayanthi Nagar: Rs 330 per sq.ft (2024)
• Thippu Jayanthi Avenue: Rs 880 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 330 per sq.ft (2024)
• Sri Kaligambal Nagar Ext: Rs 330 per sq.ft (2024)
• Sri Kaligambal Nagar: Rs 330 per sq.ft (2024)
• Sri Kaligambal Avenue: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Thippu Jayanthi Nagar (2)

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thippu Jayanthi Nagar (2)?

The Thiruvottiyur Sub Registrar Office covers Thippu Jayanthi Nagar (2). The address is 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Melsingilimedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that all transactions are conducted in accordance with the established rates.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Thippu Jayanthi Nagar (2)?

The current guideline value of Thippu Jayanthi Nagar (2) is Rs 330 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 18 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1733%.

What are the stamp duty rates for property in Thippu Jayanthi Nagar (2)?

The stamp duty for property in Thippu Jayanthi Nagar (2) is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value.

Which office handles property registrations for Thippu Jayanthi Nagar (2)?

The Thiruvottiyur Sub Registrar Office handles property registrations for Thippu Jayanthi Nagar (2), located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator available on our site.