Guideline Value for THIRUMULLAIVOYAL ROAD

Thirumullaivoyal Road guideline value

The current guideline value of Thirumullaivoyal Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This road is located in Korattur village, under the jurisdiction of the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Thirumullaivoyal Road has changed

The guideline value for Thirumullaivoyal Road has seen significant changes over the years. In the 2007 revision, the value was Rs 375 per sq.ft. This increased dramatically to Rs 2,300 per sq.ft in the 2012 revision, marking a rise of 513%. However, in the 2017 revision, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, reflecting an increase of 62% from 2017.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 567%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is the same as the 2024 figure for Thirumullaivoyal Road.

• Thirumal Nagar: Rs 1,600 per sq.ft (2024)
• Thirumalai Square (Rajiv Nagar Korattur): Rs 2,100 per sq.ft (2024)
• Thirumalai Square (Balaji Nagar): Rs 2,100 per sq.ft (2024)
• Thirumalai Nagar: Rs 2,500 per sq.ft (2024)
• Thirumalai Annex: Rs 2,500 per sq.ft (2024)
• Thillai Nagar Extension: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumullaivoyal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total costs to Rs 2,25,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Thirumullaivoyal Road?

The Sub Registrar Office that covers Thirumullaivoyal Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the registration process. Buyers should ensure that they are informed about the latest revisions to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Thirumullaivoyal Road?

The current guideline value of Thirumullaivoyal Road is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, representing an overall increase of 567% over the years.

What is the land classification for Thirumullaivoyal Road?

The land classification for Thirumullaivoyal Road is Residential Class II Type - III.

What are the stamp duty and registration fees for property in Thirumullaivoyal Road?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles property registrations for Thirumullaivoyal Road?

The Villivakkam Sub Registrar Office handles property registrations for Thirumullaivoyal Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.