Guideline Value for THIRUMALAI NAGAR 2ND CROSS STREET

Thirumalai Nagar 2nd Cross Street guideline value

The current guideline value of Thirumalai Nagar 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Thirumalai Nagar 2nd Cross Street has changed

The guideline value for Thirumalai Nagar 2nd Cross Street has seen significant changes over the years. In 2002, the value was Rs 270 per sq.ft, which increased to Rs 305 per sq.ft in 2003, marking a 13% rise. The value then experienced a substantial increase of 310% to reach Rs 1,250 per sq.ft in 2007. By 2012, the value was revised to Rs 5,000 per sq.ft, reflecting a decrease of 33% from the previous figure.

In 2017, the guideline value increased to Rs 3,350 per sq.ft, which was a 49% rise. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 5,500 per sq.ft, indicating a 10% increase. There are no figures available for the revisions in years not listed for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Thirumalai Nagar 2nd Cross Street is above this median.

• Thirumalai Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 8th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar 2nd Cross Street?

The Thirumalai Nagar 2nd Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 2nd Cross Street?

The current guideline value of Thirumalai Nagar 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 270 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1937% over this period.

What is the land classification for Thirumalai Nagar 2nd Cross Street?

Thirumalai Nagar 2nd Cross Street is classified as Residential Special Type - IV according to the guidelines.

Where can I find the Sub Registrar Office for Thirumalai Nagar 2nd Cross Street?

The Neelankarai Sub Registrar Office covers Thirumalai Nagar 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for properties in Thirumalai Nagar 2nd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.