Guideline Value for THIRUMAL NAGAR FIRST MAIN STREET

Thirumal Nagar First Main Street guideline value

The current guideline value of Thirumal Nagar First 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 First Main Street has changed

Over the years, the guideline value of Thirumal Nagar First Main Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later revised 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 currently stands at Rs 2,740 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The current guideline value reflects a 10% increase from the previous year, 2023. Overall, from 2012 to 2024, the guideline value has risen by 10%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 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 in this area is Rs 2,200 per sq.ft, placing Thirumal Nagar First Main Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Thirumal Nagar First 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, charged 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumal Nagar First Main Street?

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

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of Thirumal Nagar First 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 increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,740 per sq.ft in 2024.

What is the land classification of Thirumal Nagar First Main Street?

Thirumal Nagar First Main Street is classified as Residential Class I Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Thirumal Nagar First Main Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,740 per sq.ft, the stamp duty would be Rs 1,91,800.