Guideline Value for THIRUMALAI NAGAR ANNEXE 1ST CROSS STREET

Thirumalai Nagar Annexe 1st Cross Street guideline value

The current guideline value for Thirumalai Nagar Annexe 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Thirumalai Nagar Annexe 1st Cross Street has changed

The guideline value for Thirumalai Nagar Annexe 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 300%. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 5,500 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%, reflecting the changes in the property market over the years.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Thirumalai Nagar Annexe 1st Cross Street is above this median.

• Thirumalai Nagar Annexe: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 1st Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 3rd Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Annexe 1st 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, bringing the total fees 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar Annexe 1st Cross Street?

The Thirumalai Nagar Annexe 1st Cross Street 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 Perungudi

The guideline value is a critical factor during property registration in Perungudi. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue based on the property's value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annexe 1st Cross Street?

The current guideline value of Thirumalai Nagar Annexe 1st 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 from Rs 1,250 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification for Thirumalai Nagar Annexe 1st Cross Street?

The land classification for Thirumalai Nagar Annexe 1st Cross Street is Residential Special Type - IV.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 Annexe 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,85,000.