Guideline Value for THIRUMALAI NAGAR 6TH CROSS STREET

Thirumalai Nagar 6th Cross Street guideline value

The current guideline value of Thirumalai Nagar 6th 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 6th Cross Street has changed

The guideline value for Thirumalai Nagar 6th Cross Street has undergone several revisions 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 saw a significant jump to Rs 1,250 per sq.ft in 2007, reflecting a 310% increase. By 2012, the value was Rs 5,000 per sq.ft, which represented a 300% increase from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, a 10% increase.

The overall change from 2002 to 2024 is a remarkable 1937%. There are no figures available for the years not mentioned in the register for this 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 guideline value in the village is Rs 3,300 per sq.ft, placing Thirumalai Nagar 6th Cross Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 6th 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, resulting in a total of 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 detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar 6th Cross Street?

The Thirumalai Nagar 6th 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 when registering property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 6th Cross Street?

The current guideline value of Thirumalai Nagar 6th 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 seen several revisions, with the most recent increase of 10% from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024.

What is the overall change in guideline value from 2002 to 2024?

From 2002 to 2024, the overall change in the guideline value is a significant increase of 1937%.

What are the stamp duty and registration fees for property in this area?

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 the registration for Thirumalai Nagar 6th Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Thirumalai Nagar 6th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.