Guideline Value for THIRUMALAI NAGAR ANNEXE 2ND CROSS STREET

Thirumalai Nagar Annexe 2nd Cross Street guideline value

The current guideline value for Thirumalai Nagar Annexe 2nd 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 2nd Cross Street has changed

The guideline value has experienced several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,250 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 300% rise. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

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%.

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. Thirumalai Nagar Annexe 2nd Cross Street's current guideline value is above this median.

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

The Thirumalai Nagar Annexe 2nd Cross Street 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures transparency and standardization in property transactions. It helps both buyers and sellers understand the official valuation of the property based on its location and classification.

Frequently asked questions

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

The current guideline value of Thirumalai Nagar Annexe 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 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 are the other streets with the same guideline value in Perungudi?

Other streets in Perungudi with the same guideline value of Rs 5,500 per sq.ft include Thirumalai Nagar Annexe 1st Main Road, Thirumalai Nagar Annexe 2nd Main Road, Thirumalai Nagar Annexe 1st Cross Street, Thirumalai Nagar Annexe 3rd Cross Street, Thirumalai Nagar Annexe, and Thirumalai Nagar Annexe 3rd Main Road.

What is the role of the Neelankarai SRO?

The Neelankarai SRO is responsible for the registration of property transactions in the area, ensuring that all transactions comply with the legal framework and that the guideline values are applied correctly.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000.