Guideline Value for THIRUMALAI PILLAI ROAD

Thirumalai Pillai Road guideline value

The current guideline value of Thirumalai Pillai Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Thirumalai Pillai Road has changed

The guideline value for Thirumalai Pillai Road has undergone several revisions over the years. In the 2002 revision, the value was Rs 3,482 per sq.ft. This increased to Rs 3,865 per sq.ft in 2003, marking an increase of 11%. The value rose significantly to Rs 5,500 per sq.ft in 2007, which was a 42% increase. The next revision in 2012 saw a decrease to Rs 16,000 per sq.ft, a drop of 33% from the previous figure. However, in 2017, the value increased to Rs 10,720 per sq.ft, reflecting a 49% rise. The 2023 revision set the value at Rs 16,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 17,600 per sq.ft, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 405%. The register has no figure for the years not mentioned in the revisions above.

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, with a median value of Rs 11,000 per sq.ft. The guideline value for Thirumalai Pillai Road is above this median.

• Thirumalai Pillai 1st Street: Rs 14,300 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, making the total fees Rs 15,84,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Pillai Road?

The Thirumalai Pillai Road falls under the jurisdiction of 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 during property registration in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with regulatory requirements.

When a property is sold, the guideline value helps in calculating the financial obligations related to the transaction. It is essential for both parties to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Pillai Road?

The current guideline value of Thirumalai Pillai Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 3,482 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 405%.

What are the other streets with guideline values in Tnagar?

Other streets in Tnagar include Thirumalai Pillai 1st Street at Rs 14,300 per sq.ft, Thirumurthy Street and Thilak Street Extension both at Rs 17,600 per sq.ft, and several others at varying rates.

What are the stamp duty and registration fees for properties on Thirumalai Pillai Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,76,00,000, with stamp duty at Rs 12,32,000 and registration fees at Rs 3,52,000, totaling Rs 15,84,000.

Where can I find the Sub Registrar Office for Thirumalai Pillai Road?

The Thiyagaraya nagar Sub Registrar Office covers Thirumalai Pillai Road and is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.