Guideline Value for THIRUMALAI NAGAR ANNEXE BHARATHI STREET

Thirumalai Nagar Annexe Bharathi Street guideline value

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

How the guideline value of Thirumalai Nagar Annexe Bharathi Street has changed

The guideline value for Thirumalai Nagar Annexe Bharathi Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose sharply to Rs 5,000 per sq.ft in 2023, and has now increased by 10% to Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. The most notable change was from 2007 to 2012, which saw a 300% increase. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figure for this street in 2002 and 2003.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Thirumalai Nagar Annexe Bharathi Street's 2024 figure above this median.

• Thirumalai Nagar Annexe 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe Padmavathy Avenue: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 4th Cross 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 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 Bharathi 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, totaling Rs 4,95,000. It is important to note that 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 information.

Which Sub Registrar Office covers Thirumalai Nagar Annexe Bharathi Street?

The Sub Registrar Office that covers Thirumalai Nagar Annexe Bharathi 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 additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annexe Bharathi Street?

The current guideline value of Thirumalai Nagar Annexe Bharathi 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 this period.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft, with Thirumalai Nagar Annexe Bharathi Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a total of Rs 4,95,000 in fees.

Which office handles property registrations for Thirumalai Nagar Annexe Bharathi Street?

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