Guideline Value for Thirumalai Nagar 2nd Main Road

Thirumalai Nagar 2nd Main Road guideline value

The current guideline value of Thirumalai Nagar 2nd Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Thirumalai Nagar 2nd Main Road has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,700 per sq.ft.

Between these revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows an increase of 8%, highlighting the fluctuations in the guideline value over the years.

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 Thirumalai Nagar 2nd Main Road above this median.

• Thirumalai Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Main Road Ext.: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 2nd Main Road

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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 2nd Main Road?

The Thirumalai Nagar 2nd Main Road falls under the jurisdiction of the Selaiyur Sub Registrar Office. The address is 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 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established values set by the government.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 2nd Main Road?

The current guideline value of Thirumalai Nagar 2nd Main Road 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Thirumalai Nagar 2nd Main Road?

Thirumalai Nagar 2nd Main Road is classified as Residential Class I Type - III.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.