Guideline Value for Thirumalai Raja Lane

Thirumalai Raja Lane guideline value

The current guideline value of Thirumalai Raja Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Thirumalai Raja Lane has changed

The guideline value for Thirumalai Raja Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, when it was Rs 624 per sq.ft. This increased to Rs 700 per sq.ft in 2003, showing a rise of 12%. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, which was an increase of 71%. Following this, in 2012, the value dropped to Rs 4,500 per sq.ft, marking a decrease of 275%. In 2017, it rose again to Rs 3,015 per sq.ft, reflecting a change of 49%. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, and the current value for 2024 is Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the years between the revisions listed. Overall, from 2002 to 2024, the guideline value has increased by 685%.

Guideline values in Ayanavaram

Ayanavaram village has 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Thirumalai Raja Lane.

• Thirumalai Raja Street: Rs 4,900 per sq.ft (2024)
• Thirupacheeswaran street: Rs 4,900 per sq.ft (2024)
• Thiruvalluar NagarAnna Cross Street: Rs 4,900 per sq.ft (2024)
• Thiruvalluar NagarAnna Street: Rs 4,900 per sq.ft (2024)
• Thiruvalluar NagarKamaraj street: Rs 4,900 per sq.ft (2024)
• Thiruvalluar Nagar Solai Amman koil street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Raja Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalai Raja Lane?

The Sub Registrar Office that covers Thirumalai Raja Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for any further inquiries.

How the guideline value is used when you buy or sell in Ayanavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transactions are recorded at a value that reflects the current market standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, making it essential to understand the current guideline value for accurate budgeting.

Frequently asked questions

What is the current guideline value of Thirumalai Raja Lane?

The current guideline value of Thirumalai Raja Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 624 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 685% over the years.

What is the stamp duty rate for properties in Thirumalai Raja Lane?

The stamp duty rate for properties in Thirumalai Raja Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thirumalai Raja Lane located?

The Sub Registrar Office for Thirumalai Raja Lane is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What are the other streets in Ayanavaram with the same guideline value?

Other streets in Ayanavaram with a guideline value of Rs 4,900 per sq.ft include Thirumalai Raja Street, Thirupacheeswaran street, Thiruvalluar NagarAnna Cross Street, Thiruvalluar NagarAnna Street, Thiruvalluar NagarKamaraj street, and Thiruvalluar Nagar Solai Amman koil street.