Guideline Value for THIRUMAL NAGAR 2ND MAIN STREET

Thirumal Nagar 2nd Main Street guideline value

The current guideline value of Thirumal Nagar 2nd Main Street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumal Nagar 2nd Main Street has changed

The guideline value for Thirumal Nagar 2nd Main Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to Rs 2,740 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%, while the value surged by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figure for this street in 2002, 2003, or 2007.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Thirumal Nagar 2nd Main Street's 2024 figure above this median.

• Thirumal Nagar 1st And 2nd Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 3rd Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 4th And 5th Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 6th Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar Ext: Rs 2,740 per sq.ft (2024)
• Thirumal nagar: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal Nagar 2nd Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total cost for these fees to Rs 2,46,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumal Nagar 2nd Main Street?

The Sub Registrar Office that covers Thirumal Nagar 2nd Main Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Poonthamallee, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings. It is important for both buyers and sellers to consult the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Thirumal Nagar 2nd Main Street is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,740 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Thirumal Nagar 2nd Main Street?

The Poonamallee Sub Registrar Office handles registrations for Thirumal Nagar 2nd Main Street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification of Thirumal Nagar 2nd Main Street?

Thirumal Nagar 2nd Main Street is classified as Residential Class I Type - I, indicating its designation for residential use.