Guideline Value for Thirumalai Nagar 6th Cross Street

Thirumalai Nagar 6th Cross Street guideline value

The current guideline value of Thirumalai Nagar 6th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thirumalai Nagar 6th Cross Street has changed

The guideline value for Thirumalai Nagar 6th Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The changes from 2012 to 2017 saw a decrease of 33%, while the jump from 2017 to 2023 was an increase of 49%. The most recent change from 2023 to 2024 represents an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 286%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

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 value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Thirumalai Nagar 6th Cross Street above this median.

• Thirumalai Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 7th cross street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 8th cross street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 6th Cross 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, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar 6th Cross Street?

The Sub Registrar Office that covers Thirumalai Nagar 6th Cross 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 plays a crucial role in the registration process of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the property market.

When you are registering a property, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions, and it is essential for buyers and sellers to be aware of the current guideline value before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 6th Cross Street?

The current guideline value of Thirumalai Nagar 6th Cross 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, marking an overall increase of 286% over the years.

What are the stamp duty and registration fees for properties in Thirumalai Nagar 6th Cross Street?

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 Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Thirumalai Nagar 6th Cross Street, 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 streets in Chembakkam is Rs 2,200 per sq.ft, with Thirumalai Nagar 6th Cross Street's value being above this median at Rs 2,700 per sq.ft.