Guideline Value for THIRUMALAI NAGAR 3RD CROSS STREET

Thirumalai Nagar 3rd Cross Street guideline value

The current guideline value of Thirumalai Nagar 3rd 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, with a land classification of Residential Special Type - IV.

How the guideline value of Thirumalai Nagar 3rd Cross Street has changed

The guideline value for Thirumalai Nagar 3rd 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 saw a substantial increase to Rs 1,250 per sq.ft in 2007, reflecting a 310% change. By 2012, the value reached Rs 5,000 per sq.ft, a decrease of 33% from the previous revision. In 2017, it rose again to Rs 3,350 per sq.ft, which was a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent revision for 2024 has increased it to Rs 5,500 per sq.ft, a 10% increase.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,937%.

Guideline values in Perungudi

In Perungudi village, 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. Thirumalai Nagar 3rd Cross Street's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

• Thirumalai Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 2nd 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 3rd 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 amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 3rd Cross Street?

The Thirumalai Nagar 3rd Cross Street is covered by 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value helps in assessing the legal value of the property. This value is used to calculate the applicable duties and fees, which are essential for the legal transfer of ownership and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 3rd Cross Street?

The current guideline value of Thirumalai Nagar 3rd 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 changed significantly from Rs 270 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,937% over the years.

What are the stamp duty and registration fees for property in Thirumalai Nagar 3rd Cross Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Thirumalai Nagar 3rd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Thirumalai Nagar 3rd Cross Street?

The land classification for Thirumalai Nagar 3rd Cross Street is Residential Special Type - IV.