Guideline Value for THIRUMALAI NAGAR ANNEX 1ST CROSS STREET (AS PER PERUNGUDI)

Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi) guideline value

The current guideline value of Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi) has changed

The guideline value for Thirumalai Nagar Annex 1st Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,250 per sq.ft, which rose significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value increased to Rs 5,000 per sq.ft in 2023 and is now set at Rs 5,500 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw a further increase of 10%. The overall increase from 2007 to 2024 is a substantial 340%, reflecting the changes in the real estate landscape over the years.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, making the 2024 figure for Thirumalai Nagar Annex 1st Cross Street above this median.

• Thirumalai Nagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 4th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi)

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 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 accurate calculations.

Which Sub Registrar Office covers Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi)?

The Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi) 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 Seevaram

The guideline value plays a crucial role in the property registration process in Seevaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This value is essential for both buyers and sellers to understand the financial implications of a property transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with government regulations.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annex 1st Cross Street?

The current guideline value of Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi) 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 significantly from Rs 1,250 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024. There have been fluctuations, including a decrease to Rs 3,350 per sq.ft in 2017 before rising again.

What is the land classification for Thirumalai Nagar Annex 1st Cross Street?

Thirumalai Nagar Annex 1st Cross Street is classified as Residential Special Type - I. This classification impacts the guideline value and potential uses of the land.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Thirumalai Nagar Annex 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the guideline value of Rs 5,500 per sq.ft would incur a total guideline value of Rs 55,00,000, leading to specific stamp duty and registration fees.