Guideline Value for THIRUSOOLAM MAIN ROAD

Thirusoolam Main Road guideline value

The current guideline value of Thirusoolam Main Road in Thirusulam village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Thirusoolam Main Road has changed

The guideline value for Thirusoolam Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a modest 10% increase.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 1,940 per sq.ft, positioning Thirusoolam Main Road above this median.

• Thirisoolam Moovarasampattu Main Road: Rs 1,980 per sq.ft (2024)
• Thirisoolam Colony: Rs 1,100 per sq.ft (2024)
• Thangapilliyar Koil Street: Rs 1,320 per sq.ft (2024)
• Vaithiyar Street: Rs 1,940 per sq.ft (2024)
• Vaithiyar Street Ext 1 To 4 Streets: Rs 1,940 per sq.ft (2024)
• Vaithiyar Street Extn: Rs 1,940 per sq.ft (2024)

Stamp duty and registration fee for property in Thirusoolam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirusoolam Main Road?

The Thirusoolam Main Road falls under the jurisdiction of 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 Thirusulam

The guideline value plays a crucial role in the registration process when buying or selling property in Thirusulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Thirusoolam Main Road?

The current guideline value of Thirusoolam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Thirusoolam Main Road?

Thirusoolam Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thirusoolam?

For a 1,000 sq.ft plot valued at Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Thirusoolam Main Road?

The Pallavaram Sub Registrar Office handles property registrations for Thirusoolam Main Road, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.