Guideline Value for THIRUMANAGAIALWAR STREET (WARD -5)

Thirumanagaialwar Street (Ward -5) guideline value

The current guideline value of Thirumanagaialwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thirumanagaialwar Street (Ward -5) has changed

The guideline value for Thirumanagaialwar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,321 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, the change from 2012 to 2024 shows a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Thirumanagaialwar Street's 2024 figure above that median.

• Thirumoolar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirumurugan Nagar (Per): Rs 660 per sq.ft (2024)
• Thirunavukarasar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,321 per sq.ft (2024)
• Thirupanalwar Street (Ward -18): Rs 1,321 per sq.ft (2024)
• Thirupavai Street (N): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumanagaialwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total cost for these fees to Rs 1,18,890. 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 Thirumanagaialwar Street (Ward -5)?

The Sub Registrar Office that covers Thirumanagaialwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Ninna Karai, as it determines the minimum price at which the property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented legally and accurately.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Thirumanagaialwar Street?

The current guideline value of Thirumanagaialwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Thirumanagaialwar Street?

The land classification for Thirumanagaialwar Street (Ward -5) is Residential Special Type - V.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.