Guideline Value for Thirukkural Street

Thirukkural Street guideline value

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

How the guideline value of Thirukkural Street has changed

The guideline value for Thirukkural Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,300 per sq.ft, which then decreased to Rs 871 per sq.ft in 2017. However, the value saw a significant increase to Rs 1,300 per sq.ft in 2023, followed by another rise to the current rate of Rs 1,400 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase. The register has no figures for revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Thirukkural Street is below this median.

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

Stamp duty and registration fee for property in Thirukkural Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be 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, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirukkural Street?

The Sub Registrar Office that covers Thirukkural 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 critical factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the transaction.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is calculated, ensuring that the transaction is registered at a fair value as per the local regulations.

Frequently asked questions

What is the current guideline value of Thirukkural Street?

The current guideline value of Thirukkural 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 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2023, and is now Rs 1,400 per sq.ft in 2024.

What is the land classification for Thirukkural Street?

Thirukkural Street is classified as Residential Class II Type - II.

Where can I find the registration office for Thirukkural Street?

The Selaiyur Sub Registrar Office covers Thirukkural Street and 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 Street?

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