Guideline Value for Thirumalai Nagar 3rd Cross Street

Thirumalai Nagar 3rd Cross Street guideline value

The current guideline value for Thirumalai Nagar 3rd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

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. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the Rs 1,675 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, making the 2024 figure for Thirumalai Nagar 3rd Cross Street above this median.

• Thirumalai Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 4th Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. 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 further calculations.

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

The Thirumalai Nagar 3rd Cross Street is covered by 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 Madambakkam

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

It is essential to refer to the latest guideline value during the registration process, as it can affect the overall cost of property transactions. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value for Thirumalai Nagar 3rd Cross Street is Rs 2,750 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 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for this street?

The land classification for Thirumalai Nagar 3rd Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for this area?

The Selaiyur Sub Registrar Office handles registrations for Thirumalai Nagar 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.