Guideline Value for THIRUKURALAR STREET (WARD -8)

Thirukuralar Street (Ward -8) guideline value

The current guideline value of Thirukuralar Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Thirukuralar Street (Ward -8) has seen several revisions over the years. In 2012, the value was recorded at Rs 1,200 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 804 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Thirukuralar Street in the revisions of 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Thirukuralar Street (Ward -8) above this median.

• Thirukoodarasappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirukkural Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,321 per sq.ft (2024)
• Thirugnanasambanthar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thilagar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirumanagaialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be 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 details.

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

The Sub Registrar Office that covers Thirukuralar Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 plays a crucial role during the registration process when buying or selling property in Ninna Karai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted in accordance with the established rates set by the Registration Department.

When a property is sold, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which ensures compliance with the regulatory framework.

Frequently asked questions

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

The current guideline value of Thirukuralar Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, which is a 10% increase. It also saw a 49% increase from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the land classification for Thirukuralar Street?

The land classification for Thirukuralar Street (Ward -8) is Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Thirukuralar Street?

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

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

Stamp duty for properties in Ninna Karai is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,21,000, the stamp duty at 7% would be Rs 92,470.