Guideline Value for THIRU NAGAR 7TH STREET

Thiru Nagar 7th Street guideline value

The current guideline value of Thiru Nagar 7th 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 is classified as Residential Class III Type - I.

How the guideline value of Thiru Nagar 7th Street has changed

The guideline value for Thiru Nagar 7th Street has seen several revisions over the years. In 2002, the value was Rs 710 per sq.ft, which increased to Rs 780 per sq.ft in 2003. The following revisions were significant: in 2007, the value jumped to Rs 1,200 per sq.ft, and by 2012, it had risen to Rs 4,600 per sq.ft. However, it decreased to Rs 3,082 per sq.ft in 2017. The value then increased to Rs 4,600 per sq.ft in 2023 and finally reached Rs 5,000 per sq.ft in the 2024 revision.

Between these revisions, notable changes include an increase of 9% from 2023 to 2024, a substantial rise of 49% from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The most significant increase occurred from 2007 to 2012, which saw a rise of 283%. Overall, from 2002 to 2024, the guideline value has increased by 604%.

Guideline values in Puliyur

Puliyur village has a total of 648 streets under the Kodambakkam SRO, with guideline values for 2024 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, placing Thiru Nagar 7th Street's 2024 figure below that median.

• Thiru Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Thiru Nagar Main Road: Rs 6,300 per sq.ft (2024)
• Thiru Nagar 2nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that 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 7th Street?

The Sub Registrar Office that covers Thiru Nagar 7th 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 crucial factor in property transactions in Puliyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable duties and fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. This process helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Thiru Nagar 7th Street?

The current guideline value of Thiru Nagar 7th 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 710 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 604% over this period.

What is the stamp duty for property in Thiru Nagar 7th Street?

The stamp duty for a property in Thiru Nagar 7th Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000.

Which Sub Registrar Office covers the area?

The Kodambakkam Sub Registrar Office covers Thiru Nagar 7th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Thiru Nagar 7th Street?

Thiru Nagar 7th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.