Guideline Value for Thirukkural 1st Cross Street

Thirukkural 1st Cross Street guideline value

The current guideline value of Thirukkural 1st Cross Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Thirukkural 1st Cross Street has changed

The guideline value for Thirukkural 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a growth of 420%. However, it decreased to Rs 871 per sq.ft in 2017, a reduction of 33%. The value then rose to Rs 1,300 per sq.ft in 2023, and further increased by 8% to reach the current rate of Rs 1,400 per sq.ft in 2024.

Notably, the register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Thirukkural 1st Cross Street's 2024 figure below that median.

• Thirukkural 1st Main Road: Rs 1,400 per sq.ft (2024)
• Thirukkural 1st Street: Rs 1,400 per sq.ft (2024)
• Thirukkural 2nd Cross Street: Rs 1,400 per sq.ft (2024)
• Thirukkural 2nd Main Road: Rs 1,400 per sq.ft (2024)
• Thirukkural 2nd Street: Rs 1,400 per sq.ft (2024)
• Thirukkural Main Road: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirukkural 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirukkural 1st Cross Street?

The Sub Registrar Office that covers Thirukkural 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Chembakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirukkural 1st Cross Street?

The current guideline value of Thirukkural 1st Cross Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting a total increase of 460% over the years.

What is the land classification of Thirukkural 1st Cross Street?

Thirukkural 1st Cross Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Thirukkural 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.