Guideline Value for Thilagavathi 2nd Street

Thilagavathi 2nd Street guideline value

The current guideline value of Thilagavathi 2nd Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thilagavathi 2nd Street has changed

The guideline value for Thilagavathi 2nd Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 500 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a remarkable rise of 360%. However, it then decreased to Rs 1,541 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 2,300 per sq.ft in 2023, and most recently, it has increased to Rs 2,530 per sq.ft in 2024, reflecting a growth of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 406%, showcasing significant changes over the years.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Thilagavathi 2nd Street's 2024 figure is above this median.

• Thilagavathi Main Road: Rs 2,530 per sq.ft (2024)
• Thilagavathi Nagar: Rs 2,530 per sq.ft (2024)
• Thilagavathi Nagar Extn: Rs 2,530 per sq.ft (2024)
• Thilagavathy Nagar ,(Vijaya Ganapath): Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Tamil Poonga Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagavathi 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, leading to a total of Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thilagavathi 2nd Street?

The Sub Registrar Office that covers Thilagavathi 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives its due revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable taxes. Buyers and sellers should be aware that the registration process will consider the higher of the guideline value or the sale price to determine the final fees owed.

Frequently asked questions

What is the current guideline value of Thilagavathi 2nd Street?

The current guideline value of Thilagavathi 2nd Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 406% over the years.

What are the other streets in Irumpuliyur with similar guideline values?

Other streets in Irumpuliyur with similar guideline values include Thilagavathi Main Road, Thilagavathi Nagar, and Tamil Poonga Street, all at Rs 2,530 per sq.ft for 2024.

What is the registration fee for property in Thilagavathi 2nd Street?

The registration fee for property in Thilagavathi 2nd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,30,000 would incur a registration fee of Rs 50,600 at 2%.

Where is the Sub Registrar Office for Thilagavathi 2nd Street located?

The Sub Registrar Office for Thilagavathi 2nd Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.