Guideline Value for THIRUMALAI NAGAR ANNEX 1ST MAIN ROAD

Thirumalai Nagar Annex 1st Main Road guideline value

The current guideline value of Thirumalai Nagar Annex 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Seevaram village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex 1st Main Road has changed

The guideline value for Thirumalai Nagar Annex 1st Main Road has seen significant changes over the years. In 2002, the value was Rs 254 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 176% rise. The value continued to rise, reaching Rs 1,250 per sq.ft in 2007, a 79% increase from the previous year. By 2012, the value had increased to Rs 5,000 per sq.ft, reflecting a substantial 300% rise from 2007. However, it decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 5,000 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 2065%.

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, with a median value of Rs 2,800 per sq.ft. The guideline value of Thirumalai Nagar Annex 1st Main Road is above this median.

• Thirumalai Nagar Annex 1st Cross Street: 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 Main Road

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, bringing the total 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumalai Nagar Annex 1st Main Road?

The Thirumalai Nagar Annex 1st Main Road 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is registered at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency in the transaction and aids in the accurate calculation of the associated fees.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annex 1st Main Road?

The current guideline value of Thirumalai Nagar Annex 1st Main Road 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 254 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2065% over this period.

What is the land classification for Thirumalai Nagar Annex 1st Main Road?

The land classification for Thirumalai Nagar Annex 1st Main Road is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Thirumalai Nagar Annex 1st Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumalai Nagar Annex 1st Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 4,95,000.