Guideline Value for Thamarai Nagar 1st Street

Thamarai Nagar 1st Street guideline value

The current guideline value of Thamarai Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thamarai Nagar 1st Street has changed

The guideline value for Thamarai Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased dramatically to Rs 2,200 per sq.ft in 2012, marking a substantial rise of 1000%. However, in the 2017 revision, the value decreased to Rs 1,474 per sq.ft, which represented a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, reflecting an increase of 63% from the 2017 figure. There are no figures available for the years 2023, 2003, and 2002 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the 2024 figure for Thamarai Nagar 1st Street.

• Thamarai Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar Extension: Rs 2,400 per sq.ft (2024)
• Thanthai Periyar Nagar (Venkatesan Street): Rs 1,500 per sq.ft (2024)
• Tank Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thamarai Nagar 1st Street?

The Sub Registrar Office that covers Thamarai Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumullaivoyal. 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.

When a property is registered, the authorities assess the guideline value to ensure that the transaction is recorded at a price that reflects the current market conditions. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Thamarai Nagar 1st Street?

The current guideline value of Thamarai Nagar 1st Street is Rs 2,400 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 200 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1100% over the years.

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

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Thamarai Nagar 1st Street?

The Ambattur Sub Registrar Office covers Thamarai Nagar 1st Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Thamarai Nagar 1st Street?

Thamarai Nagar 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.