Guideline Value for THIRUMURTHY STREET

Thirumurthy Street guideline value

The current guideline value of Thirumurthy Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Thirumurthy Street has changed

The guideline value for Thirumurthy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,945 per sq.ft. This increased to Rs 2,400 per sq.ft in 2003, marking a change of +23%. The value saw a significant rise to Rs 8,823 per sq.ft in 2007, which was an increase of +268%. In 2012, the value adjusted to Rs 16,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The guideline value then rose to Rs 10,720 per sq.ft in 2017, which was a +49% increase. The most recent revision in 2023 set the value at Rs 16,000 per sq.ft, before it increased to the current rate of Rs 17,600 per sq.ft in 2024, representing a +10% change.

There are no figures available for the years not mentioned in the register for Thirumurthy Street. Overall, from 2002 to 2024, the guideline value has increased by +805%.

Guideline values in Tnagar

In Tnagar, a total of 262 streets are listed under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Thirumurthy Street's 2024 figure above that median.

• Thirumalai Pillai Road: Rs 17,600 per sq.ft (2024)
• Thirumalai Pillai 1st Street: Rs 14,300 per sq.ft (2024)
• Thilak Street Extension: Rs 17,600 per sq.ft (2024)
• Thilak Street: Rs 11,000 per sq.ft (2024)
• Thiagaraya Grammani Street: Rs 8,800 per sq.ft (2024)
• Thanjavur Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, while the registration fee at 2% would be Rs 3,52,000. Together, these fees would total Rs 15,84,000. 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 Thirumurthy Street?

The Sub Registrar Office that covers Thirumurthy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are collected by the authorities.

Frequently asked questions

What is the current guideline value of Thirumurthy Street?

The current guideline value of Thirumurthy Street is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,945 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of +805%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 1,76,00,000. The stamp duty would be Rs 12,32,000, and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Which Sub Registrar Office covers Thirumurthy Street?

The Thiyagaraya nagar Sub Registrar Office covers Thirumurthy Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Thirumurthy Street?

Thirumurthy Street is classified as Commercial Special Type - III.