Guideline Value for Thirumalai Nagar 4th Street

Thirumalai Nagar 4th Street guideline value

The current guideline value of Thirumalai Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street 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 4th Street has changed

The guideline value for Thirumalai Nagar 4th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, the value dropped to Rs 1,675 per sq.ft in the 2017 revision, representing a decrease of 33%. The subsequent revisions saw an increase, with the value rising to Rs 2,500 per sq.ft in 2023, an increase of 49%, and finally reaching Rs 2,700 per sq.ft in the 2024 revision, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, 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, with a median value of Rs 2,200 per sq.ft. Thirumalai Nagar 4th Street's guideline value of Rs 2,700 per sq.ft is above this median.

• Thirumalai Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 4th cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 3rd Main Road Ext.: Rs 2,700 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 2,700 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, and the registration fee at 2% would be Rs 54,000, bringing the total to 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 4th Street?

The Sub Registrar Office covering 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 Chembakkam

The guideline value is a crucial factor during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations tied to the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

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 2,700 per sq.ft, effective from 1 July 2024.

How much 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, reflecting an overall increase of 286%.

What are the stamp duty rates applicable for properties in Thirumalai Nagar 4th Street?

The stamp duty for properties in Thirumalai Nagar 4th Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thirumalai Nagar 4th Street located?

The Sub Registrar Office for Thirumalai Nagar 4th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Thirumalai Nagar 4th Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.