Guideline Value for Thirumalai Nagar 2nd Street

Thirumalai Nagar 2nd Street guideline value

The current guideline value of Thirumalai Nagar 2nd 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 Street has changed

The guideline value for Thirumalai Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% decline. The value then rose again to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,700 per sq.ft in the 2024 revision, representing an 8% increase.

There are no guideline values recorded for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, 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 value is Rs 2,200 per sq.ft, placing the Thirumalai Nagar 2nd Street guideline value above this median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumalai Nagar 2nd Street?

The Sub Registrar Office that covers Thirumalai Nagar 2nd 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 details.

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 serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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

Frequently asked questions

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

The current guideline value of Thirumalai Nagar 2nd 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, marking an overall increase of 286% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Thirumalai Nagar 2nd Street's 2024 value being above this median.

What are the stamp duty rates for properties in Thirumalai Nagar 2nd Street?

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

Where can I find the Sub Registrar Office for Thirumalai Nagar 2nd Street?

The Sub Registrar Office for Thirumalai Nagar 2nd Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.