Guideline Value for THIRU NAGAR 2ND STREET

Thiru Nagar 2nd Street guideline value

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

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

Since 2002, the guideline value of Thiru Nagar 2nd Street has seen significant changes. In 2002, the guideline value was Rs 710 per sq.ft, which increased to Rs 780 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,200 per sq.ft in 2007, reflecting a 54% increase. The next revision in 2012 saw a substantial jump to Rs 4,600 per sq.ft, which is a remarkable 283% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, representing a 9% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 604%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, indicating that Thiru Nagar 2nd Street's 2024 figure is below that median.

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

Stamp duty and registration fee for property in Thiru Nagar 2nd 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 at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total charges to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru Nagar 2nd Street?

The Sub Registrar Office that covers Thiru Nagar 2nd 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Puliyur. 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 a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thiru Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 710 per sq.ft to Rs 5,000 per sq.ft in 2024, which is an overall increase of 604%.

What is the stamp duty rate for properties in Thiru Nagar 2nd Street?

The stamp duty rate for properties in Thiru Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thiru Nagar 2nd Street located?

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

Are there other streets with the same guideline value in Puliyur?

Yes, there are several other streets in Puliyur that have the same guideline value of Rs 5,000 per sq.ft, including Thiru Nagar 1st Street, Thiru Nagar 3rd Street, Thiru Nagar 4th Street, Thiru Nagar 5th Street, and Thiru Nagar 1st Cross Street.