Guideline Value for Thirumalai Nagar 2nd Cross Street

Thirumalai Nagar 2nd Cross Street guideline value

The current guideline value of Thirumalai Nagar 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thirumalai Nagar 2nd Cross Street has changed

The guideline value for Thirumalai Nagar 2nd Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The current 2024 revision marks a further increase to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, indicating that Thirumalai Nagar 2nd Cross Street's current value is below this median.

• Thirumalai Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar Salai: Rs 1,100 per sq.ft (2024)
• Thirumenieshwarar Koil Street: Rs 1,100 per sq.ft (2024)
• Thiru Nagar: Rs 1,650 per sq.ft (2024)
• Theepanchiyamman Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalai Nagar 2nd Cross Street?

The Thirumalai Nagar 2nd Cross Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 2nd Cross Street?

The current guideline value of Thirumalai Nagar 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and now to Rs 1,100 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Thirumalai Nagar 2nd Cross Street?

Thirumalai Nagar 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thirumalai Nagar 2nd Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for properties in this area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 and a registration fee of Rs 22,000.