Guideline Value for Thirumalai Nagar Main Road

Thirumalai Nagar Main Road guideline value

The current guideline value of Thirumalai Nagar Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

Over the years, the guideline value of Thirumalai Nagar Main Road has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until 2017 when it dropped to Rs 1,675 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,500 per sq.ft. The latest revision in 2024 has increased the value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Thirumalai Nagar Main Road. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Thirumalai Nagar Main Road above this median.

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

Stamp duty and registration fee for property in Thirumalai Nagar Main Road

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, 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 or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar Main Road?

The Sub Registrar Office that covers Thirumalai Nagar Main Road 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 plays a crucial role in the registration process when buying or selling property in Chembakkam. It is the minimum value set by the government for property transactions, ensuring that the property is not sold for less than this value. This helps in maintaining transparency and fairness in property dealings.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, contributing to local development.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Main Road?

The current guideline value of Thirumalai Nagar Main Road 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 2023 to Rs 2,700 per sq.ft in 2024, which is an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Thirumalai Nagar Main Road?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Thirumalai Nagar Main Road?

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

What is the land classification of Thirumalai Nagar Main Road?

Thirumalai Nagar Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.