Guideline Value for Thirumalai Nagar 17th Street

Thirumalai Nagar 17th Street guideline value

The current guideline value of Thirumalai Nagar 17th 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 17th Street has changed

The guideline value for Thirumalai Nagar 17th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value rose again 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, which is an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%. Notably, there are no figures available for the years 2002 and 2003 in the register 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 the 2024 guideline value of Thirumalai Nagar 17th Street above this median.

• Thirumalai Nagar 16th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 18th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 15th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 19th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 14th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 17th 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, and 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 and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar 17th Street?

The Sub Registrar Office that covers Thirumalai Nagar 17th 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 is a crucial factor in property transactions in Chembakkam, as it is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value may influence the overall cost of the transaction, as it serves as a benchmark for property valuation.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 17th Street?

The current guideline value of Thirumalai Nagar 17th 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, an overall increase of 286%. There were fluctuations, including a drop to Rs 1,675 per sq.ft in 2017 before rising again.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which office handles property registrations for Thirumalai Nagar 17th Street?

The Selaiyur Sub Registrar Office handles property registrations for Thirumalai Nagar 17th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft. Thirumalai Nagar 17th Street's guideline value is above this median.