Guideline Value for Thirumalai Nagar 3rd Main Road Ext.

Thirumalai Nagar 3rd Main Road Ext. guideline value

The current guideline value of Thirumalai Nagar 3rd Main Road Ext. is Rs 2,700 per sq.ft, effective from 1 July 2024. This area 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 3rd Main Road Ext. has changed

The guideline value for Thirumalai Nagar 3rd Main Road Ext. has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, there was a substantial increase of 257%. However, from 2012 to 2017, the value experienced a decrease of 33%. The following years saw a significant rise of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. Overall, the guideline value has increased by 286% from 2007 to 2024.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values 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 Main Road Ext. above this median.

• Thirumalai Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 2nd Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 3rd Main Road Ext.

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, while the registration fee at 2% would be Rs 54,000. Together, these fees would total 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 3rd Main Road Ext.?

The Thirumalai Nagar 3rd Main Road Ext. falls under 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 when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable fees, making it an essential aspect of the real estate transaction process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 3rd Main Road Ext.?

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

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Thirumalai Nagar 3rd Main Road Ext.?

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

What is the median guideline value for streets in Chembakkam?

The median guideline value for the 472 streets in Chembakkam is Rs 2,200 per sq.ft, with Thirumalai Nagar 3rd Main Road Ext. being above this median at Rs 2,700 per sq.ft.