Guideline Value for THIRUMALAI STREET

Thirumalai Street guideline value

The current guideline value of Thirumalai Street, located in Thiruvanmiyur village, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Thirumalai Street has changed

The guideline value for Thirumalai Street has seen several revisions over the years. In 2002, the value was Rs 732 per sq.ft, which increased to Rs 810 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a 60% increase. By 2012, the value was Rs 3,200 per sq.ft, a substantial 146% increase from the previous figure.

From 2012 to 2017, the value decreased to Rs 2,144 per sq.ft, a decline of 33%. However, the value rebounded to Rs 3,200 per sq.ft in 2023, a notable 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, representing a 10% increase from the previous year.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are a total of 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, indicating that Thirumalai Street's 2024 figure is below this median.

• Thirumudi Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Thirumurugan Street: Rs 11,000 per sq.ft (2024)
• Thidir Nagar: Rs 3,520 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 11th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 12th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Street?

The Sub Registrar Office that covers Thirumalai Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a critical reference point during property registration in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the official value assigned to the property.

When you buy or sell property, the guideline value helps in establishing a transparent transaction process. It ensures that the fees are calculated based on a standardized value, which is essential for legal documentation and compliance.

Frequently asked questions

What is the current guideline value of Thirumalai Street?

The current guideline value of Thirumalai Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 732 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 381% over the years.

What are the stamp duty and registration fees for property in Thirumalai Street?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Thirumalai Street?

The Chennai South Joint I Sub Registrar Office covers Thirumalai Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Thirumalai Street?

Thirumalai Street is classified as Residential Class V Type - III, indicating its designation for residential purposes within the Chennai South Joint I SRO.