Guideline Value for Thirukkural 2nd Street

Thirukkural 2nd Street guideline value

The current guideline value of Thirukkural 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Thirukkural 2nd Street has changed

Over the years, the guideline value for Thirukkural 2nd Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Thirukkural 2nd Street's value above this median.

• Thirukkural 3rd Street: Rs 2,750 per sq.ft (2024)
• Thirukkural 3rd Street Ext: Rs 2,750 per sq.ft (2024)
• Thirukkural Ist Street: Rs 2,750 per sq.ft (2024)
• Thirumagal Nagar: Rs 2,750 per sq.ft (2024)
• Thirumagal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumagal Nagar 2nd Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Thirukkural 2nd Street?

The Sub Registrar Office that covers Thirukkural 2nd Street 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 information.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered during the registration process. Buyers and sellers must ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

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

The current guideline value of Thirukkural 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Thirukkural 2nd Street?

Thirukkural 2nd Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Thirukkural 2nd Street?

The Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, handles registrations for Thirukkural 2nd Street.