Guideline Value for THIRUMALAI NAGAR ANNEX 2ND CROSS STREET

Thirumalai Nagar Annex 2nd Cross Street guideline value

The current guideline value of Thirumalai Nagar Annex 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village under the Neelankarai SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Thirumalai Nagar Annex 2nd Cross Street has changed

The guideline value for Thirumalai Nagar Annex 2nd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 254 per sq.ft. This increased to Rs 700 per sq.ft in 2003, marking a significant rise of 176%. The value continued to rise to Rs 1,250 per sq.ft in 2007, a change of 79%. In 2012, the value reached Rs 5,000 per sq.ft, reflecting a substantial increase of 300%. However, it then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, followed by the current 2024 figure of Rs 5,500 per sq.ft, which is a 10% increase.

There are no figures available for the revisions between the years not mentioned in the register. 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. The median value for these streets is Rs 2,800 per sq.ft, and the guideline value for Thirumalai Nagar Annex 2nd Cross Street is above this median.

• Thirumalai Nagar Annex 1st Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 1st Cross Street (As Per Perungudi): 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 2nd 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, 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 and the sale price.

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

Which Sub Registrar Office covers Thirumalai Nagar Annex 2nd Cross Street?

The Sub Registrar Office that covers Thirumalai Nagar Annex 2nd Cross Street is 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 Seevaram

The guideline value plays a crucial role in the registration process of property transactions in Seevaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annex 2nd Cross Street?

The current guideline value of Thirumalai Nagar Annex 2nd 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 increased 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 2nd Cross Street?

The land classification for Thirumalai Nagar Annex 2nd Cross Street is Residential Special Type - I.

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

The Sub Registrar Office for Thirumalai Nagar Annex 2nd Cross Street 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at the rate of 7%.