Guideline Value for Thirumalai Nagar 14th Cross Street

Thirumalai Nagar 14th Cross Street guideline value

The current guideline value of Thirumalai Nagar 14th Cross 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 14th Cross Street has changed

The guideline value for Thirumalai Nagar 14th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which later dropped to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. As of the 2024 revision, the guideline value stands at Rs 2,700 per sq.ft, showing an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the current 2024 value is an increase of 8%.

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, and Thirumalai Nagar 14th Cross Street's 2024 figure is above that median.

• Thirumalai Nagar 14th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai nagar 13th Street Extension: Rs 2,900 per sq.ft (2024)
• Thirumalai Nagar 15th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 16th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total cost 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 14th Cross Street?

The Thirumalai Nagar 14th Cross Street falls under 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to avoid potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 14th Cross Street?

The current guideline value of Thirumalai Nagar 14th Cross 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 from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012, where it was Rs 2,500 per sq.ft.

What is the land classification for Thirumalai Nagar 14th Cross Street?

Thirumalai Nagar 14th Cross Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirumalai Nagar 14th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.