Guideline Value for THIRUMAL STREET

Thirumal Street guideline value

The current guideline value of Thirumal Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thirumal Street has changed

The guideline value for Thirumal Street has undergone several revisions over the years. The earliest recorded figure is from 2002, when it was Rs 397 per sq.ft. This value increased to Rs 458 per sq.ft in 2003, marking a rise of 15%. The next significant change occurred in 2007, with the guideline value jumping to Rs 700 per sq.ft, reflecting a 53% increase. In 2012, the value rose to Rs 3,200 per sq.ft, showing a substantial increase of 357%. However, this figure was reduced to Rs 2,144 per sq.ft in 2017, indicating a decline of 33%. The value then climbed to Rs 3,200 per sq.ft in 2023, before reaching the current rate of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 787%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value for Thirumal Street is below this median.

• Thirumoolar Street: Rs 3,520 per sq.ft (2024)
• Thirumal 7th Street (Gandhi Nagar): Rs 3,520 per sq.ft (2024)
• Thirukumaran St: Rs 3,080 per sq.ft (2024)
• Thirugnanasambandam Street: Rs 3,520 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,620 per sq.ft (2024)
• Thiruvasagam Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thirumal Street?

The Sub Registrar Office that covers Thirumal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO here.

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

The guideline value is a crucial metric used during property registration in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirumal Street?

The current guideline value of Thirumal Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 397 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 787% over the years.

What is the land classification for Thirumal Street?

Thirumal Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Thirumal Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated for properties in Thirumal Street?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,16,800.