Guideline Value for THIRUMURUGAN STREET

Thirumurugan Street guideline value

The current guideline value of Thirumurugan Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Thirumurugan Street has changed

The guideline value of Thirumurugan Street has seen significant changes over the years. In 2002, the value was Rs 1,944 per sq.ft, which increased to Rs 2,151 per sq.ft in 2003. Following that, the value rose to Rs 3,300 per sq.ft in 2007, marking a substantial increase of 53% from the previous year. The value then jumped dramatically to Rs 10,000 per sq.ft in 2012, reflecting a 203% increase. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33% from 2012. The value then increased significantly to Rs 10,000 per sq.ft in 2023, and finally, it reached Rs 11,000 per sq.ft in 2024, showing a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 466%. There are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur village, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, positioning Thirumurugan Street above this median.

• Thirumudi Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Thirumalai Street: Rs 3,520 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 11th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 12th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 13th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost for these fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumurugan Street?

The Sub Registrar Office that covers Thirumurugan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure that they comply with the legal requirements during the registration process.

When a property transaction occurs, the guideline value is used to calculate the applicable fees. It is essential for both parties to understand that the stamp duty and registration fees are based on the higher of the guideline value or the actual sale price of the property. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Thirumurugan Street?

The current guideline value of Thirumurugan Street is Rs 11,000 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 1,944 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 466% over this period.

What is the registration office for Thirumurugan Street?

The registration office for Thirumurugan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Thirumurugan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 11,000 per sq.ft, the stamp duty would be calculated accordingly.

What are the other streets in Thiruvanmiyur with their guideline values?

Other streets in Thiruvanmiyur have varying guideline values, with Thirumudi Vinayagar Koil Street and Thirumalai Street at Rs 3,520 per sq.ft, and several streets in Thiruvalluvar Nagar at Rs 7,150 per sq.ft.