Guideline Value for Thirumalai Street

Thirumalai Street guideline value

The current guideline value of Thirumalai Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thirumalai Street has changed

The guideline value for Thirumalai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 1,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,001 per sq.ft, reflecting no percentage change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, indicating that Thirumalai Street's 2024 figure is below this median.

• Thirunavukarasu Street: Rs 1,300 per sq.ft (2024)
• Theradi Street: Rs 1,000 per sq.ft (2024)
• Thavasi Street: Rs 1,001 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,001 per sq.ft (2024)
• Thangakulam: Rs 1,001 per sq.ft (2024)
• Thiyagarajar Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,001 per sq.ft, the guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, totaling Rs 90,090. Please note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Street?

The Sub Registrar Office that covers Thirumalai Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered along with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Thirumalai Street?

The current guideline value of Thirumalai Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,001 per sq.ft in 2024.

What is the median guideline value in Menambedu?

The median guideline value for the 171 streets in Menambedu is Rs 1,003 per sq.ft, which means Thirumalai Street's 2024 value is below this median.

What are the stamp duty rates for properties in Thirumalai Street?

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

Where can I find the Sub Registrar Office for Thirumalai Street?

The Sub Registrar Office for Thirumalai Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.