Guideline Value for THIRUMALAI NAGAR ANNEX PADMAVATHI AVENUE ANNEX

Thirumalai Nagar Annex Padmavathi Avenue Annex guideline value

The current guideline value of Thirumalai Nagar Annex Padmavathi Avenue Annex is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Seevaram village and falls under the Neelankarai SRO with a land classification of Residential Special Type - I.

How the guideline value of Thirumalai Nagar Annex Padmavathi Avenue Annex has changed

The guideline value has undergone 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%. In 2007, the value jumped to Rs 1,250 per sq.ft, reflecting a 300% increase. The 2012 revision saw the value at Rs 5,000 per sq.ft, which was a decrease of 33% from the previous figure. The 2017 revision brought the value up to Rs 3,350 per sq.ft, an increase of 49% from 2012. The most recent 2023 revision set the value at Rs 5,000 per sq.ft, before the current figure of Rs 5,500 per sq.ft effective from 1 July 2024, indicating a 10% increase.

There are no figures available for the years not mentioned in this 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, with a median value of Rs 2,800 per sq.ft. Thirumalai Nagar Annex Padmavathi Avenue Annex's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Thirumalai Nagar Annex Padmavathi Avenue: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Bharathi Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 5th 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 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annex 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Annex Padmavathi Avenue Annex

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, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar Annex Padmavathi Avenue Annex?

The Thirumalai Nagar Annex Padmavathi Avenue Annex 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. 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 during the registration 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 government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers and sellers should ensure that the sale price is in line with the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annex Padmavathi Avenue Annex?

The current guideline value of Thirumalai Nagar Annex Padmavathi Avenue Annex 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 over the years, from Rs 254 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 2065%.

What is the land classification for this property?

The land classification for Thirumalai Nagar Annex Padmavathi Avenue Annex is Residential Special Type - I, as per the Neelankarai SRO.

What are the stamp duty and registration fees for this property?

For a plot measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Thirumalai Nagar Annex Padmavathi Avenue Annex?

The Neelankarai Sub Registrar Office handles the registration for Thirumalai Nagar Annex Padmavathi Avenue Annex, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.