Guideline Value for THIRUMALAI NAGAR ANNEX 5TH CROSS STREET

Thirumalai Nagar Annex 5th Cross Street guideline value

The current guideline value for Thirumalai Nagar Annex 5th 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 is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex 5th Cross Street has changed

The guideline value for Thirumalai Nagar Annex 5th Cross Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, which was Rs 254 per sq.ft. This value increased significantly to Rs 700 per sq.ft in 2003, marking a change of +176%. Following this, the value rose to Rs 1,250 per sq.ft in 2007, reflecting an increase of +79%. In 2012, the guideline value was Rs 5,000 per sq.ft, which was a decrease of -33% from the previous revision. The value then increased to Rs 3,350 per sq.ft in 2017, showing a rise of +49%. The most recent revisions show that the value was Rs 5,000 per sq.ft in 2023, and it has now increased to Rs 5,500 per sq.ft in 2024, which is a change of +10%.

There are no figures available for revisions in years not listed, and the overall change from 2002 to 2024 is +2065%.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO with 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, indicating that Thirumalai Nagar Annex 5th Cross Street's 2024 figure is above that median.

• Thirumalai Nagar Annex 4th 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 3rd 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 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 5th 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, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar Annex 5th Cross Street?

The Sub Registrar Office that covers Thirumalai Nagar Annex 5th 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Seevaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two values. This ensures that the government collects the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar Annex 5th Cross Street?

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

What are the other streets in Seevaram with the same guideline value?

Other streets in Seevaram with the same guideline value of Rs 5,500 per sq.ft for 2024 include Thirumalai Nagar Annex 4th Cross Street, 3rd Main Road, 3rd Cross Street, 2nd Main Road, 2nd Cross Street, and 1st Main Road.

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

The Sub Registrar Office for Thirumalai Nagar Annex 5th 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 for properties in Thirumalai Nagar Annex 5th Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would amount to Rs 3,85,000.