Guideline Value for Thirumalai Nagar 3rd Street

Thirumalai Nagar 3rd Street guideline value

The current guideline value of Thirumalai Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

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

The guideline value for Thirumalai Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 700 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 257%. However, the value decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 set the value at Rs 2,500 per sq.ft, followed by the current value of Rs 2,700 per sq.ft in 2024, reflecting an increase of 8%.

There are no recorded figures for the revisions in 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 in the village is Rs 2,200 per sq.ft, which means that Thirumalai Nagar 3rd Street's 2024 value is above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 3rd 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, totaling 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar 3rd Street?

The Thirumalai Nagar 3rd Street 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 information.

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

The guideline value plays a crucial role in property transactions in Chembakkam. It is used to determine the stamp duty and registration fees payable during the registration of property. Buyers and sellers must be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the authorities will charge the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Thirumalai Nagar 3rd 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 increased 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 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 Street?

The Selaiyur Sub Registrar Office handles registrations for Thirumalai Nagar 3rd Street, located in Chennai.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is used to calculate the stamp duty and registration fees during property transactions.