Guideline Value for THIRUMALAI ANNEX

Thirumalai Annex guideline value

The current guideline value of Thirumalai Annex is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Thirumalai Annex has changed

The guideline value for Thirumalai Annex has seen several revisions over the years. In 2007, the guideline value was set at Rs 600 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a 283% rise. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a reduction of 33%. The most recent revision in 2024 has brought the guideline value to Rs 2,500 per sq.ft, which is a 62% increase from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 317%.

Guideline values in Korattur

In Korattur village, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Thirumalai Annex.

• Thirumalai Nagar: Rs 2,500 per sq.ft (2024)
• Thillai Nagar Extension: Rs 2,500 per sq.ft (2024)
• Thillai Nagar 4th & 5th Street: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Annex?

The Sub Registrar Office that covers Thirumalai Annex is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. When a property is bought or sold, the guideline value is used to ensure that the transaction is recorded accurately and fairly.

In Korattur, the guideline value helps in standardizing property prices across different streets and areas. This ensures that buyers and sellers have a clear understanding of the minimum value that will be considered for registration purposes, thereby facilitating smoother transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Annex?

The current guideline value of Thirumalai Annex is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, which is an overall increase of 317%.

What is the land classification of Thirumalai Annex?

Thirumalai Annex is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Thirumalai Annex?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,75,000.