Guideline Value for Thirumalai Nagar 5th Street

Thirumalai Nagar 5th Street guideline value

The current guideline value of Thirumalai Nagar 5th 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 5th Street has changed

The guideline value for Thirumalai Nagar 5th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall change in the guideline value is an increase of 286%. The most notable changes include a rise of 257% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. A significant increase of 49% was observed from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of 8%.

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 in the village is Rs 2,200 per sq.ft, making the 2024 figure for Thirumalai Nagar 5th Street above this median.

• Thirumalai Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 7th cross street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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, resulting in a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar 5th Street?

The Sub Registrar Office that covers Thirumalai Nagar 5th 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that the guideline value may differ from the actual sale price of a property.

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

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 5th Street?

The current guideline value of Thirumalai Nagar 5th 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 changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 286% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, and Thirumalai Nagar 5th Street's 2024 figure is above this median.

What are the stamp duty and registration fees for a property in Thirumalai Nagar 5th Street?

For a 1,000 sq.ft property at the current guideline value, the total 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 5th Street?

The Selaiyur Sub Registrar Office handles registrations for Thirumalai Nagar 5th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.