Guideline Value for THIRUMALAI NAGAR 8TH CROSS STREET

Thirumalai Nagar 8th Cross Street guideline value

The current guideline value of Thirumalai Nagar 8th 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 8th Cross Street has changed

The guideline value for Thirumalai Nagar 8th 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. Following that, the guideline value saw a significant rise to Rs 1,250 per sq.ft in 2007, and then it further increased 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 and has now reached Rs 5,500 per sq.ft in the 2024 revision.

Overall, the changes between revisions reflect an increase of 1937% from 2002 to 2024. Notably, the increase from 2023 to 2024 is 10%, while the jump from 2017 to 2023 was 49%. The register has no figures for revisions in the years not mentioned.

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 across these streets is Rs 3,300 per sq.ft, placing Thirumalai Nagar 8th Cross Street's 2024 value above this median.

• Thirumalai Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar 6th 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 8th 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, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 8th Cross Street?

The Thirumalai Nagar 8th Cross Street falls under 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 during the registration of properties in Perungudi. It helps determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 8th Cross Street?

The current guideline value of Thirumalai Nagar 8th 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 significant changes, increasing from Rs 270 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1937%.

What are the stamp duty and registration fees for a property in Thirumalai Nagar 8th 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 8th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Thirumalai Nagar 8th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification of Thirumalai Nagar 8th Cross Street?

Thirumalai Nagar 8th Cross Street is classified as Residential Special Type - IV, indicating its suitability for residential development.