Guideline Value for Thirumalai Nagar 4th Street

Thirumalai Nagar 4th Street guideline value

The current guideline value of Thirumalai Nagar 4th 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 4th Street has changed

The guideline value for Thirumalai Nagar 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 2,500 per sq.ft in 2023, and further increased to the current rate of Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 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 that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Thirumalai Nagar 4th Street's 2024 figure above that median.

• Thirumalai Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 4th 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, totaling Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Thirumalai Nagar 4th Street?

The Sub Registrar Office that covers Thirumalai Nagar 4th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented accurately and legally.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the agreed sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 4th Street?

The current guideline value of Thirumalai Nagar 4th 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total costs would be Rs 2,47,500.

Which office handles registrations for Thirumalai Nagar 4th Street?

The Selaiyur Sub Registrar Office handles registrations for Thirumalai Nagar 4th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Thirumalai Nagar 4th Street?

The land classification for Thirumalai Nagar 4th Street is Commercial Class I Type - I, indicating its suitability for commercial activities.