Guideline Value for Thirumalai Nagar 16th Street

Thirumalai Nagar 16th Street guideline value

The current guideline value of Thirumalai Nagar 16th 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 16th Street has changed

The guideline value for Thirumalai Nagar 16th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and finally, it stands at Rs 2,700 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 286%, showcasing significant changes over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a guideline value range from Rs 850 to Rs 6,700 per sq.ft, where the median value is Rs 2,200 per sq.ft. The guideline value for Thirumalai Nagar 16th Street is above this median.

• Thirumalai Nagar 15th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 17th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 14th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 18th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 19th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 16th 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 to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar 16th Street?

The Thirumalai Nagar 16th 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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees. It is essential to note that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 16th Street?

The current guideline value of Thirumalai Nagar 16th 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, marking an overall increase of 286% over the years.

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 office handles the registration for Thirumalai Nagar 16th Street?

The Selaiyur Sub Registrar Office handles the registration for Thirumalai Nagar 16th Street, located at No.36, Bharathmatha Salai, Chennai.

What is the land classification for Thirumalai Nagar 16th Street?

Thirumalai Nagar 16th Street is classified as Residential Class I Type - III under the guideline value register.