Guideline Value for THRIUMALAI PILLAI LANE

Thriumalai Pillai Lane guideline value

The current guideline value of Thriumalai Pillai Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO, classified as Residential Class I Type - II.

How the guideline value of Thriumalai Pillai Lane has changed

The guideline value for Thriumalai Pillai Lane has undergone several revisions over the years. In 2007, the value was set at Rs 4,000 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, this value decreased to Rs 5,360 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 8,000 per sq.ft, followed by the latest increase to Rs 8,800 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. Notably, there are no figures available 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 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, placing Thriumalai Pillai Lane's 2024 figure below the median.

• Thriumalai Pillai 2nd Street: Rs 13,200 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these fees Rs 7,92,000. 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 Thriumalai Pillai Lane?

The Thriumalai Pillai Lane falls under the jurisdiction of 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 serves as a benchmark for property transactions in Tnagar. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. This value helps in determining the financial obligations related to the registration of the property.

Frequently asked questions

What is the current guideline value of Thriumalai Pillai Lane?

The current guideline value of Thriumalai Pillai Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for properties in Thriumalai Pillai Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000, leading to a stamp duty of Rs 6,16,000 and a registration fee of Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Thriumalai Pillai Lane?

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

Where can I find more information about guideline values in Tnagar?

For more information about guideline values in Tnagar, you can refer to the Registration Department's guideline value register (TNReginet).