Guideline Value for THIRAVIAM SALAI

Thiraviam Salai guideline value

The current guideline value of Thiraviam Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thiraviam Salai has changed

The guideline value for Thiraviam Salai has seen significant changes over the years. In the 2017 revision, the guideline value was set at Rs 2,680 per sq.ft. This figure increased to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with the 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value for Thiraviam Salai above this median.

• Tesco Heaven Colony: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 3,300 per sq.ft (2024)
• Technical Staff Quarters Colony (Near T.N.H.B): Rs 3,300 per sq.ft (2024)
• Thiruvengadam Street: Rs 2,200 per sq.ft (2024)
• Thiruvengadam Street (Grama Nedunchalai 8th Cross Street): Rs 2,200 per sq.ft (2024)
• Tamil Nadu Housing Board Prathana Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thiraviam Salai

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Thiraviam Salai?

The Sub Registrar Office that covers Thiraviam Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses for any property transaction. Buyers should be aware of these costs as they can significantly impact the overall expenditure involved in the purchase.

Frequently asked questions

What is the current guideline value of Thiraviam Salai?

The current guideline value of Thiraviam Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 64% during this period.

What is the land classification for Thiraviam Salai?

The land classification for Thiraviam Salai is Residential Special Type - V, indicating its designation for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Thiraviam Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.