Guideline Value for THIRUMALAI NAGAR ANNEXE 5TH CROSS STREET

Thirumalai Nagar Annexe 5th Cross Street guideline value

The current guideline value for Thirumalai Nagar Annexe 5th 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 5th Cross Street has changed

The guideline value for Thirumalai Nagar Annexe 5th 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. However, it then decreased to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, there was a significant increase of 49%, and from 2023 to 2024, the value increased by 10%. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Perungudi

In Perungudi village, 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. The median value for these streets is Rs 3,300 per sq.ft, positioning Thirumalai Nagar Annexe 5th Cross Street above this median.

• Thirumalai Nagar Annexe 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe Bharathi Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 3rd Main Road Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe Padmavathy Avenue: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Annexe 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, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Thirumalai Nagar Annexe 5th 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 plays a crucial role in property transactions in Perungudi. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered to ensure that the sale price is not below a certain threshold. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annexe 5th Cross Street?

The current guideline value of Thirumalai Nagar Annexe 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 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 stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the 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 registrations for Thirumalai Nagar Annexe 5th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Thirumalai Nagar Annexe 5th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Thirumalai Nagar Annexe 5th Cross Street?

The land classification for Thirumalai Nagar Annexe 5th Cross Street is Residential Special Type - IV.