Guideline Value for THIRUMOOLAR STREET (WARD -7)

Thirumoolar Street (Ward -7) guideline value

The current guideline value of Thirumoolar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, and it falls under the Residential Special Type - V land classification.

How the guideline value of Thirumoolar Street (Ward -7) has changed

Over the years, the guideline value of Thirumoolar Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% increase. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing Thirumoolar Street's 2024 figure above this median.

• Thirumanagaialwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Thirumurugan Nagar (Per): Rs 660 per sq.ft (2024)
• Thirunavukarasar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Thirupanalwar Street (Ward -18): Rs 1,320 per sq.ft (2024)
• Thirupavai Street (N): Rs 1,320 per sq.ft (2024)
• Thirupozai Street: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 Thirumoolar Street (Ward -7)?

The Sub Registrar Office covering 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 Panangottur

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

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 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Thirumoolar Street?

Thirumoolar Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Thirumoolar Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, which covers Thirumoolar Street (Ward -7).

How is stamp duty calculated for property in Thirumoolar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.