Guideline Value for Thirumalai Nagar 3rd Cross Street

Thirumalai Nagar 3rd Cross Street guideline value

The current guideline value of Thirumalai Nagar 3rd 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Thirumalai Nagar 3rd Cross Street has changed

The guideline value for Thirumalai Nagar 3rd Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, from 2012 to 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 286%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

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 3rd Cross Street above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 3rd 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, 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 the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Thirumalai Nagar 3rd Cross Street?

The Sub Registrar Office that covers Thirumalai Nagar 3rd Cross 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 information.

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. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of these costs and factor them into their overall budget when considering a property purchase.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 3rd Cross Street?

The current guideline value of Thirumalai Nagar 3rd 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 changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over this period.

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

Several other streets in Chembakkam have the same guideline value of Rs 2,700 per sq.ft for 2024, including Thirumalai Nagar 2nd Street, Thirumalai Nagar 3rd Main Road, and others.

What fees are associated with property registration in Thirumalai Nagar 3rd Cross Street?

When registering property in Thirumalai Nagar 3rd Cross Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Thirumalai Nagar 3rd Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.