Guideline Value for Thirumallai Nayakar Street

Thirumallai Nayakar Street guideline value

The current guideline value of Thirumallai Nayakar Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Malaipattu village, under the Sunguvarchattram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thirumallai Nayakar Street has changed

The guideline value for Thirumallai Nayakar Street has seen various revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 150 per sq.ft. In 2017, the value decreased to Rs 100 per sq.ft, which was a reduction of 33%. However, by 2023, it increased by 50% to Rs 150 per sq.ft, and this figure remained unchanged in the 2024 revision.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline value has remained stable at Rs 150 per sq.ft from 2012 to 2024, showing no overall change during this period.

Guideline values in Malaipattu

Malaipattu village has a total of 36 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,181 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Thirumallai Nayakar Street's 2024 figure below that median.

• Thriuveethiamman Street: Rs 150 per sq.ft (2024)
• Thambaram-Sriperumbudur Salai(Pazhavathamman kovil to Bustop): Rs 441 per sq.ft (2024)
• Teachers Chennai Fair Land: Rs 300 per sq.ft (2024)
• Sri Saravana Nagar: Rs 200 per sq.ft (2024)
• Vignesh Nagar: Rs 200 per sq.ft (2024)
• SriKumaran Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumallai Nayakar Street

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total Rs 13,500. 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 Thirumallai Nayakar Street?

The Sub Registrar Office that covers Thirumallai Nayakar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Malaipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Thirumallai Nayakar Street?

The current guideline value of Thirumallai Nayakar Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023, which continued into 2024.

What is the land classification for Thirumallai Nayakar Street?

Thirumallai Nayakar Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Where can I find the Sub Registrar Office for Thirumallai Nayakar Street?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.