Guideline Value for Thirumalai Nagar 7th Street

Thirumalai Nagar 7th Street guideline value

The current guideline value for Thirumalai Nagar 7th 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 7th Street has changed

The guideline value for Thirumalai Nagar 7th Street has undergone 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, it then decreased to Rs 1,675 per sq.ft in 2017. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, and now stands at Rs 2,700 per sq.ft in 2024. The changes between these revisions are noteworthy: from 2007 to 2012, there was an increase of 257%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, an increase of 8% from 2023 to 2024.

The register does not have figures for the years 2002 and 2003 for this street. 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, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Thirumalai Nagar 7th Street's 2024 figure above this median.

• Thirumalai Nagar 7th cross street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 8th cross street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 9th cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is 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, totaling 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 detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar 7th Street?

The Sub Registrar Office that covers Thirumalai Nagar 7th 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 when buying or selling property in Chembakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 7th Street?

The current guideline value of Thirumalai Nagar 7th 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 a significant overall increase of 286% over the years.

What are the stamp duty and registration fees for properties in Thirumalai Nagar 7th 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 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is lower than the current guideline value of Thirumalai Nagar 7th Street.