Guideline Value for Thirukural Street

Thirukural Street guideline value

The current guideline value of Thirukural Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thirukural Street has changed

The guideline value of Thirukural Street has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003.

Between these revisions, the guideline value has fluctuated. From 2007 to 2012, there was a substantial increase of 275%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and the latest increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Thirukural Street's 2024 guideline value is below this median.

• Thirumalai Kundru Street: Rs 2,380 per sq.ft (2024)
• Thiropathi Nagar: Rs 1,650 per sq.ft (2024)
• Thirumalai Nagar Extn.: Rs 2,970 per sq.ft (2024)
• Thiruporur Road: Rs 2,970 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thirukural Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirukural Street?

The Sub Registrar Office that covers Thirukural Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical component in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirukural Street?

The current guideline value of Thirukural Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Thirukural Street?

The land classification for Thirukural Street is Residential Class III Type - I.

Where can I find the registration office for Thirukural Street?

The registration office for Thirukural Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Hastinapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This amount is then used to determine the total fees payable during the registration process.