Guideline Value for Thirumalai Nagar 11th Street

Thirumalai Nagar 11th Street guideline value

The current guideline value of Thirumalai Nagar 11th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Thirumalai Nagar 11th Street has changed

Over the years, the guideline value of Thirumalai Nagar 11th Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following that, the value rose sharply to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,700 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2007 to 2012, there was a substantial increase of 257%. However, from 2012 to 2017, the value decreased by 33%. The period from 2017 to 2023 saw a significant increase of 49%, and the latest revision from 2023 to 2024 reflects an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Thirumalai Nagar 11th Street's 2024 figure above that median.

• Thirumalai Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 10th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Street Extension: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 Thirumalai Nagar 11th Street?

The Sub Registrar Office that covers Thirumalai Nagar 11th 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 plays a crucial role when buying or selling property in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is often a significant factor in the overall transaction cost.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 11th Street?

The current guideline value of Thirumalai Nagar 11th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over this period.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Thirumalai Nagar 11th Street?

The Selaiyur Sub Registrar Office covers Thirumalai Nagar 11th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined for properties in Chembakkam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It is used to assess the stamp duty and registration fees during property transactions.