Guideline Value for Thirukkural 3rd Street

Thirukkural 3rd Street guideline value

The current guideline value of Thirukkural 3rd Street in Chitlapakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Thirukkural 3rd Street has changed

The guideline value for Thirukkural 3rd Street has experienced several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 2,750 per sq.ft.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 indicates a modest increase of 10% in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Thirukkural 3rd Street's 2024 figure above this median.

• Thirukkural 2nd 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 3rd 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 fees to Rs 2,47,500. 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 Thirukkural 3rd Street?

The Sub Registrar Office that covers Thirukkural 3rd 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 details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

This value is periodically revised by the Registration Department, reflecting changes in the real estate market and ensuring that property transactions are conducted at fair values as per the current rates.

Frequently asked questions

What is the current guideline value of Thirukkural 3rd Street?

The current guideline value of Thirukkural 3rd 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 back 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 for Thirukkural 3rd Street?

Thirukkural 3rd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Where can I find the Sub Registrar Office for Thirukkural 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers Thirukkural 3rd Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.