Guideline Value for Thirumalai Nagar 6th Street

Thirumalai Nagar 6th Street guideline value

The current guideline value of Thirumalai Nagar 6th 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 6th Street has changed

The guideline value for Thirumalai Nagar 6th Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value dropped to Rs 1,675 per sq.ft in 2017. From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

It is important to note that the register has no figures for this street in the years 2002 and 2003. 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 guideline value for these streets is Rs 2,200 per sq.ft, which means that Thirumalai Nagar 6th Street's current value is above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 6th 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, bringing the total cost for these fees to 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Thirumalai Nagar 6th Street?

The Thirumalai Nagar 6th 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 online for more information.

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

The guideline value is an essential factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum sale price of a property and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is crucial to be aware of the guideline value as it affects the total costs involved in the transaction. Buyers should ensure that the sale price is either equal to or greater than the guideline value to avoid any issues during registration.

Frequently asked questions

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

The current guideline value of Thirumalai Nagar 6th 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 property in Thirumalai Nagar 6th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Thirumalai Nagar 6th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Thirumalai Nagar 6th Street?

Thirumalai Nagar 6th Street is classified as Residential Class I Type - III.