Guideline Value for THIRUKKURAL STREET (WARD -8)

Thirukkural Street (Ward -8) guideline value

The current guideline value of Thirukkural Street (Ward -8) 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, classified as Residential Special Type - V.

How the guideline value of Thirukkural Street (Ward -8) has changed

The guideline value for Thirukkural Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. 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 guideline value in this village is Rs 1,100 per sq.ft, placing Thirukkural Street's 2024 figure above this median.

• Thirukoodarasappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirukuralar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirugnanasambanthar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,321 per sq.ft (2024)
• Thilagar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thenral Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Thirukkural Street (Ward -8)

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, totaling 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.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property.

Which Sub Registrar Office covers Thirukkural Street (Ward -8)?

The Sub Registrar Office that covers Thirukkural Street (Ward -8) 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the registration process.

Frequently asked questions

What is the current guideline value of Thirukkural Street (Ward -8)?

The current guideline value of Thirukkural Street (Ward -8) 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Thirukkural Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Which office handles the registration for Thirukkural Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Thirukkural Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Thirukkural Street?

Thirukkural Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.