Guideline Value for THIRUMALAI NAGAR ANNEX 3RD MAIN ROAD

Thirumalai Nagar Annex 3rd Main Road guideline value

The current guideline value for Thirumalai Nagar Annex 3rd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Seevaram village under the Neelankarai SRO, and the land classification is Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex 3rd Main Road has changed

The guideline value for Thirumalai Nagar Annex 3rd Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 254 per sq.ft. This figure 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, which was a 79% increase. By 2012, the value reached Rs 5,000 per sq.ft, reflecting a substantial increase of 300%. However, there was a decrease to Rs 3,350 per sq.ft in 2017, representing a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2065%. There are no figures available for revisions in years not listed.

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 for Thirumalai Nagar Annex 3rd Main Road is above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar Annex 3rd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar Annex 3rd Main Road?

The Thirumalai Nagar Annex 3rd Main Road 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 details.

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

The guideline value is a crucial factor when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to facilitate a smooth registration process.

When a property is sold, the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly assessed according to the established rates in the area.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar Annex 3rd Main Road?

The current guideline value for Thirumalai Nagar Annex 3rd 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 increased significantly from Rs 254 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 2065% over the years.

What is the stamp duty rate for properties in Thirumalai Nagar Annex 3rd Main Road?

The stamp duty rate for properties in Thirumalai Nagar Annex 3rd Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumalai Nagar Annex 3rd Main Road?

The Sub Registrar Office covering Thirumalai Nagar Annex 3rd Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Thirumalai Nagar Annex 3rd Main Road?

The land classification for Thirumalai Nagar Annex 3rd Main Road is Residential Special Type - I.