Guideline Value for THIRU NAGAR 2ND CROSS STREET

Thiru Nagar 2nd Cross Street guideline value

The current guideline value of Thiru Nagar 2nd Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thiru Nagar 2nd Cross Street has changed

Over the years, the guideline value of Thiru Nagar 2nd Cross Street has seen significant changes. In 2002, the guideline value was Rs 594 per sq.ft. This increased to Rs 653 per sq.ft in 2003, followed by a substantial rise to Rs 1,200 per sq.ft in 2007. The value then saw a dramatic increase to Rs 4,600 per sq.ft in 2012, although it decreased to Rs 3,082 per sq.ft in 2017. The guideline value rose again to Rs 4,600 per sq.ft in 2023, before reaching the current figure of Rs 5,000 per sq.ft in 2024.

The changes between the revisions show an overall increase of 742% from 2002 to 2024. The most notable increase occurred between 2007 and 2012, with a rise of 283%. From 2017 to 2023, there was a 49% increase, and from 2023 to 2024, the increase was 9%. The register has no figure for the years not mentioned above.

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 as of 2024. The median guideline value in this area is Rs 5,800 per sq.ft, which means that Thiru Nagar 2nd Cross Street's current value is below that median.

• Thiru Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 1st Cross 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 2nd Cross 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 is charged at 7%, which amounts to Rs 3,50,000, and the registration fee at 2% amounts to Rs 1,00,000. Together, the total cost for stamp duty and registration fee is Rs 4,50,000. 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 information.

Which Sub Registrar Office covers Thiru Nagar 2nd Cross Street?

The Sub Registrar Office that covers Thiru Nagar 2nd Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. Buyers should take into account the guideline value to understand the costs involved in registering the property and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiru Nagar 2nd Cross Street?

The current guideline value of Thiru Nagar 2nd Cross 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 significantly from Rs 594 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 742%.

What is the land classification for Thiru Nagar 2nd Cross Street?

The land classification for Thiru Nagar 2nd Cross Street is Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

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 property registrations for Thiru Nagar 2nd Cross Street?

The Kodambakkam Sub Registrar Office handles property registrations for Thiru Nagar 2nd Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.