Guideline Value for THIRUMALAI NAGAR MAIN ROAD

Thirumalai Nagar Main Road guideline value

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

How the guideline value of Thirumalai Nagar Main Road has changed

The guideline value for Thirumalai Nagar Main Road has seen several revisions over the years. The earliest recorded value was Rs 1,250 per sq.ft in 2007, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure dropped to Rs 3,350 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 5,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 5,500 per sq.ft.

In summary, the changes between revisions are as follows: from 2007 to 2012, there was a remarkable increase of 300%; from 2012 to 2017, the value decreased by 33%; the subsequent rise from 2017 to 2023 was 49%; and finally, the increase from 2023 to 2024 is 10%. The register has no 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 with the 2024 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 Main Road's 2024 figure above this median.

• Thirumalai Nagar Ist Cross Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe Padmavathy Avenue: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe Bharathi Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Nagar Annexe 5th Cross Street: 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)

Stamp duty and registration fee for property in Thirumalai Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirumalai Nagar Main Road?

The Thirumalai Nagar Main Road falls under the jurisdiction of 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 the property registration process in Perungudi. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs involved in property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Main Road?

The current guideline value of Thirumalai Nagar Main Road 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 a total increase of 340% over the years.

What is the land classification for Thirumalai Nagar Main Road?

Thirumalai Nagar Main Road is classified as Residential Special Type - IV under the Neelankarai SRO.

What are the stamp duty rates applicable to properties in Thirumalai Nagar Main Road?

The stamp duty rate for properties in Thirumalai Nagar Main Road is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Thirumalai Nagar Main Road?

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