Guideline Value for THRIUMALAI PILLAI 2ND STREET

Thriumalai Pillai 2nd Street guideline value

The current guideline value of Thriumalai Pillai 2nd Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Thriumalai Pillai 2nd Street has changed

Over the years, the guideline value of Thriumalai Pillai 2nd Street has seen significant changes. The 2007 revision set the value at Rs 4,000 per sq.ft, which increased to Rs 12,000 per sq.ft in the 2012 revision, marking a 200% increase. However, the value then decreased to Rs 8,040 per sq.ft in the 2017 revision, reflecting a 33% drop. The value rose again to Rs 12,000 per sq.ft in the 2023 revision, and then to Rs 13,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Thriumalai Pillai 2nd Street's 2024 value above this median.

• Thriumalai Pillai Lane: Rs 8,800 per sq.ft (2024)
• Thukkaram 1st Street: Rs 7,700 per sq.ft (2024)
• Thukkaram 2nd Street: Rs 7,700 per sq.ft (2024)
• Thukkaram 3rd Street: Rs 7,700 per sq.ft (2024)
• Thiyagaraya Road / Pondy Bazaar: Rs 27,500 per sq.ft (2024)
• Unnamalai Ammal Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thriumalai Pillai 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thriumalai Pillai 2nd Street?

The Thiyagaraya nagar Sub Registrar Office covers Thriumalai Pillai 2nd Street, 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 the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thriumalai Pillai 2nd Street?

The current guideline value of Thriumalai Pillai 2nd Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 4,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, which is an overall increase of 230%.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office handles registrations for this street?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Thriumalai Pillai 2nd Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification of Thriumalai Pillai 2nd Street?

Thriumalai Pillai 2nd Street is classified as Mixed Special Type - II, which is relevant for understanding its zoning and usage regulations.