Guideline Value for THIRUMALAI AVENUE

Thirumalai Avenue guideline value

The current guideline value of Thirumalai Avenue is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the jurisdiction of the Thiruvottiyur SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Thirumalai Avenue has changed

The guideline value for Thirumalai Avenue has seen several revisions over the years. In 2002, the value was Rs 413 per sq.ft, which increased to Rs 485 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 3,400 per sq.ft in 2012. In 2017, it was revised to Rs 2,278 per sq.ft, before increasing to Rs 3,400 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,700 per sq.ft.

Between these revisions, several notable changes occurred. From 2002 to 2003, the value increased by 17%. The jump from 2003 to 2007 was 65%, followed by a remarkable increase of 325% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 796%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, placing Thirumalai Avenue's 2024 figure above this median.

• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)
• Thilagar Nagar: Rs 1,900 per sq.ft (2024)
• Thirunagar: Rs 3,700 per sq.ft (2024)
• Thirunagar Extn: Rs 3,700 per sq.ft (2024)
• Thiruvallur Street: Rs 5,500 per sq.ft (2024)
• Teachers Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total fees together to Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Avenue?

The Sub Registrar Office that covers Thirumalai Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvottiyur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Understanding these values helps in planning the financial aspects of property transactions effectively.

Frequently asked questions

What is the current guideline value of Thirumalai Avenue?

The current guideline value of Thirumalai Avenue is Rs 3,700 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 413 per sq.ft in 2002 to Rs 3,700 per sq.ft in 2024, reflecting an overall increase of 796% over this period.

What is the land classification for Thirumalai Avenue?

The land classification for Thirumalai Avenue is Mixed Special Type - II.

What are the stamp duty and registration fees for properties in Thirumalai Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,33,000, calculated based on the guideline value of Rs 37,00,000.

Where is the Sub Registrar Office for Thirumalai Avenue located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.