Guideline Value for THIRU NAGAR 1ST STREET

Thiru Nagar 1st Street guideline value

The current guideline value of Thiru Nagar 1st Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Thiru Nagar 1st Street has changed

The guideline value for Thiru Nagar 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 710 per sq.ft, which increased to Rs 780 per sq.ft in 2003. Following this, a significant rise was observed, with the value reaching Rs 1,200 per sq.ft in 2007, marking an increase of 54%. The value then saw a substantial jump to Rs 4,600 per sq.ft in 2012, reflecting a 283% increase. However, it decreased to Rs 3,082 per sq.ft in 2017, a decline of 33%. The most recent revisions saw the value rise to Rs 4,600 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024, which is an increase of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 604%. The register has no figure for the years not mentioned, focusing solely on the revisions provided.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, and Thiru Nagar 1st Street's 2024 figure is below that median.

• Thiru Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 5th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty, charged at 7%, is Rs 3,50,000, while the registration fee at 2% is Rs 1,00,000. Together, the total cost for these fees is Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru Nagar 1st Street?

The Thiru Nagar 1st Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Puliyur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when transferring property ownership. The fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps buyers and sellers make informed decisions and comply with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Thiru Nagar 1st Street?

The current guideline value of Thiru Nagar 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 710 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 604% over the years.

What are the stamp duty and registration fees for properties in Thiru Nagar 1st Street?

For a property valued at Rs 50,00,000, the stamp duty is Rs 3,50,000 and the registration fee is Rs 1,00,000, totaling Rs 4,50,000.

Which office handles the registration for Thiru Nagar 1st Street?

The Kodambakkam Sub Registrar Office handles the registration for Thiru Nagar 1st Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Thiru Nagar 1st Street?

Thiru Nagar 1st Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.