Guideline Value for Thilagavathi Main Road

Thilagavathi Main Road guideline value

The current guideline value of Thilagavathi Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This road is located in Irumpuliyur village under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Thilagavathi Main Road has changed

The guideline value for Thilagavathi Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 500 per sq.ft. This value increased significantly by 360% to Rs 2,300 per sq.ft in 2012. However, in 2017, it dropped to Rs 1,541 per sq.ft, marking a decrease of 33%. The guideline value then rose to Rs 2,300 per sq.ft in 2023, and further increased by 10% to the current value of Rs 2,530 per sq.ft in 2024.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 406%.

Guideline values in Irumpuliyur

In Irumpuliyur, 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 is Rs 2,200 per sq.ft, placing Thilagavathi Main Road's 2024 figure above this median.

• Thilagavathi 2nd Street: 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 Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the 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, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagavathi Main Road?

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

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

The guideline value is a crucial factor in the registration process for property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as set by the local authorities. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Thilagavathi Main Road?

The current guideline value of Thilagavathi Main Road 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 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 with similar guideline values in Irumpuliyur?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, on a property valued at Rs 25,30,000, the total fees would amount to Rs 2,27,700.

Where is the Sub Registrar Office for Thilagavathi Main Road located?

The Sub Registrar Office for Thilagavathi Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.