Guideline Value for THIRUMURUGAN S.R.V.S.COLONY

Thirumurugan S.R.V.S.Colony guideline value

The current guideline value of Thirumurugan S.R.V.S.Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Thirumurugan S.R.V.S.Colony has changed

The guideline value for Thirumurugan S.R.V.S.Colony has seen several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,300 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 2,530 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is equal to the current value of Thirumurugan S.R.V.S.Colony.

• Thirumurugan Street: Rs 2,160 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 2,160 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 2,530 per sq.ft (2024)
• Thiruvenkadamudaiyan Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan S.R.V.S.Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty, charged at 7%, would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. It is important to note that 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 Thirumurugan S.R.V.S.Colony?

The Thirumurugan S.R.V.S.Colony falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kilkattalai

When buying or selling property in Kilkattalai, the guideline value plays a crucial role in determining the stamp duty and registration fees. The fees are calculated based on the higher of the guideline value or the sale price of the property, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thirumurugan S.R.V.S.Colony?

The current guideline value of Thirumurugan S.R.V.S.Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Thirumurugan S.R.V.S.Colony?

Thirumurugan S.R.V.S.Colony is classified as Residential Class I Type - II.

Which office handles registrations for Thirumurugan S.R.V.S.Colony?

The Pallavaram Sub Registrar Office handles registrations for Thirumurugan S.R.V.S.Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated in Kilkattalai?

Stamp duty in Kilkattalai is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.