Guideline Value for Thirumalai Nagar 15th Street

Thirumalai Nagar 15th Street guideline value

The current guideline value of Thirumalai Nagar 15th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Thirumalai Nagar 15th Street has changed

The guideline value for Thirumalai Nagar 15th Street has undergone several revisions over the years. 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, marking a 257% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024, which is an increase of 8%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Thirumalai Nagar 15th Street's 2024 value above this median.

• Thirumalai Nagar 14th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 16th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 17th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 18th 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 15th 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, leading to a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 15th Street?

The Sub Registrar Office that covers Thirumalai Nagar 15th 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

When buying or selling property in Chembakkam, the guideline value is a critical factor as it determines the amount of stamp duty and registration fees that need to be paid. The guideline value serves as a benchmark for property transactions, ensuring that the government collects appropriate taxes based on the value of the property being transferred.

It is essential for buyers and sellers to be aware of the current guideline value for their specific property, as this will influence the overall cost of the transaction. Accurate knowledge of the guideline value can help in better financial planning and compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 15th Street?

The current guideline value of Thirumalai Nagar 15th 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, reflecting an overall increase of 286% over the years.

What is the median guideline value for streets in Chembakkam?

The median guideline value for the 472 streets in Chembakkam is Rs 2,200 per sq.ft, with Thirumalai Nagar 15th Street's value being above this median.

What are the registration fees for properties in Thirumalai Nagar 15th Street?

The registration fees for properties are calculated based on the guideline value, which for a plot of 1,000 sq.ft at the current rate is Rs 2,43,000, including stamp duty and registration fees.

Where can I find the Sub Registrar Office for Thirumalai Nagar 15th Street?

The Sub Registrar Office for Thirumalai Nagar 15th Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.