Guideline Value for THIRUGNANASAMBANTHAR STREET (WARD -6)

Thirugnanasambanthar Street (Ward -6) guideline value

The current guideline value of Thirugnanasambanthar Street (Ward -6) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, and it falls under the Residential Special Type - V land classification.

How the guideline value of Thirugnanasambanthar Street (Ward -6) has changed

The guideline value for Thirugnanasambanthar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a 33% drop. The value then increased significantly in the 2023 revision to Rs 1,200 per sq.ft, and further rose by 10% in the 2024 revision to the current rate of Rs 1,321 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Thirugnanasambanthar Street's 2024 figure above the median.

• Thirukkural Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thilagar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirukoodarasappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirukuralar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thenral Nagar (Kr): Rs 660 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thirugnanasambanthar Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, resulting in a total of Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirugnanasambanthar Street (Ward -6)?

The Sub Registrar Office that covers Thirugnanasambanthar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ninna Karai. It is the minimum value at which properties are registered, ensuring that transactions are conducted at a fair price based on the prevailing rates in the area.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirugnanasambanthar Street (Ward -6)?

The current guideline value of Thirugnanasambanthar Street (Ward -6) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification of Thirugnanasambanthar Street?

Thirugnanasambanthar Street falls under the Residential Special Type - V land classification.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,21,000 would incur a stamp duty of Rs 92,470 at the rate of 7%.