Guideline Value for THIRUMOOLAR STREET (WARD -7)

Thirumoolar Street (Ward -7) guideline value

The current guideline value of Thirumoolar Street (Ward -7) 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 Thirumoolar Street (Ward -7) has changed

In the 2012 revision, the guideline value for Thirumoolar Street was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 1,200 per sq.ft in the 2023 revision, and further increased by 10% to Rs 1,321 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 is Rs 1,100 per sq.ft, making the 2024 figure for Thirumoolar Street above this median.

• Thirumanagaialwar Street (Ward -5): 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)
• Thirupanalwar Street (Ward -18): Rs 1,321 per sq.ft (2024)
• Thirupavai Street (N): Rs 1,321 per sq.ft (2024)
• Thirupozai Street: Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumoolar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Thirumoolar Street (Ward -7)?

The Sub Registrar Office that covers Thirumoolar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value will influence the stamp duty and registration fees applicable for the property.

It is crucial for buyers to be aware of the guideline value when negotiating property prices, as this value serves as a benchmark for the transaction. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumoolar Street (Ward -7)?

The current guideline value of Thirumoolar Street (Ward -7) 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 seen several revisions, with the most recent being an increase from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft. The guideline value for Thirumoolar Street is above this median.

What fees are associated with property transactions in Thirumoolar Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890. These fees are calculated based on the guideline value.

Which office handles registrations for Thirumoolar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Thirumoolar Street (Ward -7). Its address is 10, Kancheepuram Main Road, Chengalpattu 603 002.