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 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

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

The guideline value for Thirumalai Nagar 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 154 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 350 per sq.ft in 2007, and then it jumped to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 11%; from 2003 to 2007, the value rose by 127%; from 2007 to 2012, it increased by 471%; however, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1483%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Thirumalai Nagar 3rd Cross Street.

• Thirumalai Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thirumalai Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony 3rd Cross Street: Rs 2,200 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 rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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

The Thirumalai Nagar 3rd Cross Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It is the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring that all transactions are conducted fairly and transparently.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 139 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1483% over the years.

What is the land classification for Thirumalai Nagar 3rd Cross Street?

The land classification for Thirumalai Nagar 3rd Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Thirumalai Nagar 3rd Cross Street located?

The Sub Registrar Office for Thirumalai Nagar 3rd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.