Guideline Value for THIRUMALAI NAGAR ANNEXE

Thirumalai Nagar Annexe guideline value

The current guideline value of Thirumalai Nagar Annexe is Rs 5,500 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Thirumalai Nagar Annexe has seen several revisions over the years. Starting from Rs 328 per sq.ft in 2003, it increased significantly to Rs 1,250 per sq.ft in 2007, marking a rise of 281%. The value then jumped to Rs 5,000 per sq.ft in 2012, a remarkable increase of 300%. However, it dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1577%. The register does not contain any figure for the year 2002 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that have 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's 2024 guideline value is above this median.

• Thirumalai Nagar Annexe 1st Cross Street: 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

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 and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar Annexe?

The Thirumalai Nagar Annexe 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 details.

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, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to assess the minimum value on which stamp duty is calculated. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Annexe?

The current guideline value of Thirumalai Nagar Annexe 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 seen several changes, starting from Rs 328 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024. The most significant increase was from Rs 1,250 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2012.

What is the land classification for Thirumalai Nagar Annexe?

Thirumalai Nagar Annexe is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

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?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.