Guideline Value for THIRUMALAI NAGAR 5TH CROSS STREET

Thirumalai Nagar 5th Cross Street guideline value

The current guideline value of Thirumalai Nagar 5th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO, with a land classification of Residential Special Type - IV.

How the guideline value of Thirumalai Nagar 5th Cross Street has changed

The guideline value for Thirumalai Nagar 5th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 270 per sq.ft. This increased to Rs 305 per sq.ft in 2003, marking a 13% rise. The value then surged significantly to Rs 1,250 per sq.ft in 2007, a 310% increase. Following this, the 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 300%. In 2017, the value rose again to Rs 3,350 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision has established the current value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years between these revisions for Thirumalai Nagar 5th Cross Street.

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, indicating that Thirumalai Nagar 5th Cross Street's 2024 figure is above the median.

• Thirumalai Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 4th 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)
• Thirumalai Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 5th 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, bringing the total fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 5th Cross Street?

The Thirumalai Nagar 5th 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 details.

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

The guideline value plays a crucial role 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 during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 5th Cross Street?

The current guideline value of Thirumalai Nagar 5th 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 1937% over the years.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi that share the same guideline value of Rs 5,500 per sq.ft in 2024 include Thirumalai Nagar 2nd, 3rd, 4th, 6th, 7th, and 8th Cross Streets.

Where can I calculate my stamp duty and registration fees?

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office do I need to visit for registration in Thirumalai Nagar?

You need to visit the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone for registration related to Thirumalai Nagar 5th Cross Street.