Guideline Value for Thirumalai Nagar 9th Street

Thirumalai Nagar 9th Street guideline value

The current guideline value of Thirumalai Nagar 9th Street is Rs 2,700 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur Sub Registrar Office (SRO) jurisdiction. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thirumalai Nagar 9th Street has changed

The guideline value for Thirumalai Nagar 9th Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 700 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in the 2017 revision, representing a 33% drop. The guideline value saw a substantial increase again, rising to Rs 2,500 per sq.ft in the 2023 revision, and further to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 286%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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 value for these streets is Rs 2,200 per sq.ft, which means that Thirumalai Nagar 9th Street's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar 9th 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 to 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 9th Street?

The Sub Registrar Office that covers Thirumalai Nagar 9th 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 price at which a property can be registered. Buyers must pay stamp duty and registration fees based on this value, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 9th Street?

The current guideline value of Thirumalai Nagar 9th Street is Rs 2,700 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased 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 9th 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 cost would be Rs 2,43,000, including both fees.

Which Sub Registrar Office covers Thirumalai Nagar 9th Street?

The Selaiyur Sub Registrar Office covers Thirumalai Nagar 9th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures transparency and fairness in property transactions in Chembakkam.