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 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class I Type - III.

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

Over the years, the guideline value for Thirumalai Nagar 2nd Cross Street has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped by 33% to Rs 1,675 per sq.ft in 2017. The value then rose sharply by 49% to Rs 2,500 per sq.ft in 2023, before reaching the current guideline value of Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

It is important to note that there are no figures available in the register for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%.

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 guideline value for these streets is Rs 2,200 per sq.ft, placing Thirumalai Nagar 2nd Cross Street above this median.

• Thirumalai Nagar 2nd Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 1st Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Cross 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 2nd Cross 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. Together, the total cost for these fees would be Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

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

The Thirumalai Nagar 2nd Cross Street falls under the jurisdiction of 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 details.

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 transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing 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 is the stamp duty rate for properties in Thirumalai Nagar 2nd Cross Street?

The stamp duty rate for properties in Thirumalai Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What are the other streets in Chembakkam with the same guideline value?

Other streets in Chembakkam that share the same guideline value of Rs 2,700 per sq.ft include Thirumalai Nagar 2nd Main Road, Thirumalai Nagar 1st Street, Thirumalai Nagar 2nd Street, Thirumalai Nagar 1st Main Road, Thirumalai Nagar 3rd Cross Street, and Thirumalai Nagar 1st Cross Street.