Guideline Value for Thirumalai Nagar 8th cross street

Thirumalai Nagar 8th cross street guideline value

The current guideline value for Thirumalai Nagar 8th cross 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 8th cross street has changed

The guideline value for Thirumalai Nagar 8th 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, this figure decreased by 33% to Rs 1,675 per sq.ft in 2017. Following that, there was a substantial increase of 49%, bringing the value up to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no 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 village, 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, placing Thirumalai Nagar 8th cross street's 2024 value above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 8th 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 8th cross street?

The Sub Registrar Office that covers Thirumalai Nagar 8th 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 details.

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 a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is not undervalued, thus safeguarding the interests of the state and ensuring proper revenue collection. Buyers and sellers should be aware of these values to avoid any complications during the transaction.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar 8th cross street?

The current guideline value for Thirumalai Nagar 8th 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, showing a significant increase over the years.

What is the land classification for Thirumalai Nagar 8th cross street?

Thirumalai Nagar 8th cross street is classified as Residential Class I Type - III.

Where is the Selaiyur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, 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.