Guideline Value for Thirumalai Nagar 14th Street

Thirumalai Nagar 14th Street guideline value

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

Over the years, the guideline value of Thirumalai Nagar 14th Street has seen several revisions. The earliest recorded value is from 2007, which was Rs 700 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise.

The guideline value register does not have figures for the years 2002 and 2003 for this street. In summary, from 2007 to 2024, the overall increase in guideline value is 286%.

Guideline values in Chembakkam

In Chembakkam village, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, placing Thirumalai Nagar 14th Street above this median.

• Thirumalai Nagar 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 15th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 16th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Street Extension: Rs 2,900 per sq.ft (2024)
• Thirumalai Nagar 17th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 13th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 14th 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, making the total charges Rs 2,43,000. It is important to note that 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 14th Street?

The Sub Registrar Office that covers Thirumalai Nagar 14th 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 in property transactions in Chembakkam. It is used to determine the registration fees and stamp duty that buyers need to pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers often refer to the guideline value to negotiate the terms of the sale, ensuring that both parties are aware of the official valuation set by the government.

Frequently asked questions

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

The current guideline value of Thirumalai Nagar 14th 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 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 286% over the years.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value, which is Rs 2,700 per sq.ft for Thirumalai Nagar 14th Street. The total fees include a stamp duty of 7% and a registration fee of 2% of the guideline value.

Which Sub Registrar Office handles the registration for Thirumalai Nagar 14th Street?

The Selaiyur Sub Registrar Office handles the registration for Thirumalai Nagar 14th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.