Guideline Value for THIRUMALAI PILLAI 1ST STREET

Thirumalai Pillai 1st Street guideline value

The current guideline value of Thirumalai Pillai 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Thirumalai Pillai 1st Street has changed

The guideline value for Thirumalai Pillai 1st Street has seen significant changes over the years. In the 2003 revision, the value was Rs 3,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007. The 2012 revision saw a rise to Rs 13,000 per sq.ft, but this was followed by a decrease to Rs 8,710 per sq.ft in 2017. The value then jumped to Rs 13,000 per sq.ft in 2023, and most recently, it has increased to Rs 14,300 per sq.ft in the 2024 revision.

Between these revisions, the changes are as follows: from 2003 to 2007, there was a +25% increase; from 2007 to 2012, a +225% increase; a -33% decrease from 2012 to 2017; a +49% increase from 2017 to 2023; and a +10% increase from 2023 to 2024. The overall increase from 2003 to 2024 is +347%. The register has no figure for this street in 2002.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, making the current value of Thirumalai Pillai 1st Street above that median.

• Thirumalai Pillai Road: Rs 17,600 per sq.ft (2024)
• Thirumurthy Street: Rs 17,600 per sq.ft (2024)
• Thilak Street Extension: Rs 17,600 per sq.ft (2024)
• Thilak Street: Rs 11,000 per sq.ft (2024)
• Thiagaraya Grammani Street: Rs 8,800 per sq.ft (2024)
• Thanjavur Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Pillai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. 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 Pillai 1st Street?

The Sub Registrar Office that covers Thirumalai Pillai 1st Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and fairness in the transaction process.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Pillai 1st Street?

The current guideline value of Thirumalai Pillai 1st Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 3,200 per sq.ft in 2003 to Rs 14,300 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification of Thirumalai Pillai 1st Street?

Thirumalai Pillai 1st Street is classified as Mixed Special Type - I.

Where can I find the Sub Registrar Office for Thirumalai Pillai 1st Street?

The Sub Registrar Office for Thirumalai Pillai 1st Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 14,300 per sq.ft, the stamp duty would be calculated on that amount.