Guideline Value for Thirumalai Nagar Ext

Thirumalai Nagar Ext guideline value

The current guideline value for Thirumalai Nagar Extension in Chembakkam village, under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Thirumalai Nagar Ext has changed

The guideline value for Thirumalai Nagar Ext has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased it to Rs 2,500 per sq.ft, with the latest 2024 revision raising it further to Rs 2,700 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The transition from 2023 to 2024 marks an 8% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam village, 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 area is Rs 2,200 per sq.ft, making the guideline value for Thirumalai Nagar Ext above the median.

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

Stamp duty and registration fee for property in Thirumalai Nagar Ext

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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be 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 further assistance.

Which Sub Registrar Office covers Thirumalai Nagar Ext?

The Thirumalai Nagar Ext is covered by 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 during the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the transaction process.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar Ext?

The current guideline value for Thirumalai Nagar Ext 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Thirumalai Nagar Ext?

Thirumalai Nagar Ext is classified as Residential Class I Type - III.

Where can I find the Selaiyur Sub Registrar Office?

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. 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.