Guideline Value for THIRUMALAI NAGAR 4TH CROSS STREET

Thirumalai Nagar 4th Cross Street guideline value

The current guideline value of Thirumalai Nagar 4th 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 4th Cross Street has changed

The guideline value for Thirumalai Nagar 4th Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 270 per sq.ft, which increased to Rs 305 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,250 per sq.ft in 2007, and then it surged to Rs 5,000 per sq.ft in 2012. However, this figure dropped to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023 before reaching the current rate of Rs 5,500 per sq.ft in 2024. The register has no figure for this street for the years not mentioned.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 was 10%. The period from 2002 to 2024 shows an overall increase of 1,937%. Notably, the value saw a remarkable rise of 300% from 2007 to 2012 and a 310% increase from 2003 to 2007.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thirumalai Nagar 4th Cross Street above this median.

• Thirumalai Nagar 3rd 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 2nd 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 4th 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, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. It is important to note that the 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 4th Cross Street?

The Sub Registrar Office that covers Thirumalai Nagar 4th Cross Street is 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 when registering properties in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately for taxation purposes.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 4th Cross Street?

The current guideline value of Thirumalai Nagar 4th 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, showing an overall increase of 1,937% over this period.

What is the median guideline value in Perungudi?

The median guideline value for streets in Perungudi is Rs 3,300 per sq.ft, with Thirumalai Nagar 4th Cross Street positioned above this median.

What are the stamp duty and registration fees for properties in Thirumalai Nagar 4th 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 office handles registrations for Thirumalai Nagar 4th Cross Street?

The Neelankarai Sub Registrar Office is responsible for handling registrations for Thirumalai Nagar 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.