Guideline Value for Thirumalai Nagar 18th Street

Thirumalai Nagar 18th Street guideline value

The current guideline value of Thirumalai Nagar 18th 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 18th Street has changed

The guideline value for Thirumalai Nagar 18th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The value remained at Rs 2,500 per sq.ft in the 2012 revision, but increased significantly to Rs 2,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 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, placing Thirumalai Nagar 18th Street's 2024 figure above that median.

• Thirumalai Nagar 17th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 19th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 16th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 15th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 14th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 18th 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 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar 18th Street?

The Thirumalai Nagar 18th 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, within 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 when registering property transactions in Chembakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 18th Street?

The current guideline value of Thirumalai Nagar 18th 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, marking a 49% rise.

What is the land classification of Thirumalai Nagar 18th Street?

Thirumalai Nagar 18th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thirumalai Nagar 18th Street?

The Selaiyur Sub Registrar Office covers Thirumalai Nagar 18th Street, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees for property transactions. It is the basis for calculating the official value of the property during registration.