Guideline Value for THIRUMALAI NAGAR 7TH CROSS STREET

Thirumalai Nagar 7th Cross Street guideline value

The current guideline value of Thirumalai Nagar 7th 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 7th Cross Street has changed

The guideline value for Thirumalai Nagar 7th 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. The value saw significant growth, reaching Rs 1,250 per sq.ft in 2007, and further increasing to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in 2017. 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.

The changes between these revisions are notable. From 2002 to 2003, the increase was +13%. The value surged by +310% from 2003 to 2007, followed by a +300% increase from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024, resulting in an overall increase of +1937% from 2002 to 2024.

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. Thirumalai Nagar 7th Cross Street's 2024 guideline value of Rs 5,500 per sq.ft is above the median.

• Thirumalai Nagar 6th 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 7th 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 is 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 the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 7th Cross Street?

The Thirumalai Nagar 7th 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 is a crucial factor during the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is registered, the guideline value is taken into account to ensure that the fees are calculated accurately. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 7th Cross Street?

The current guideline value of Thirumalai Nagar 7th 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 stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property valued at Rs 5,500 per sq.ft, the total guideline value is Rs 55,00,000, with stamp duty at Rs 3,85,000 and registration fees at Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Thirumalai Nagar 7th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Thirumalai Nagar 7th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Thirumalai Nagar 7th Cross Street?

The land classification for Thirumalai Nagar 7th Cross Street is Residential Special Type - IV.