Guideline Value for Thirumangaiyalvarpuram, Ambedkar Salai

Thirumangaiyalvarpuram, Ambedkar Salai guideline value

The current guideline value for Thirumangaiyalvarpuram, Ambedkar Salai is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thiruneermalai village and falls under the Pammal SRO. The land classification is Residential Class III Type - I.

How the guideline value of Thirumangaiyalvarpuram, Ambedkar Salai has changed

The guideline value for Thirumangaiyalvarpuram, Ambedkar Salai has seen several revisions over the years. In 2017, the guideline value was Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 brought the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise indicates a significant change in the valuation of properties in this area over the years.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this village is Rs 2,420 per sq.ft, placing the 2024 guideline value of Thirumangaiyalvarpuram, Ambedkar Salai below this median.

• Thirumangaiyalvarpuram, Jagajeevanram Street: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Thangavel Street: Rs 1,980 per sq.ft (2024)
• Thirumangaialwarpuram: Rs 1,320 per sq.ft (2024)
• Thirumal Nagar: Rs 2,200 per sq.ft (2024)
• Thirumalai Nagar Kiqraj Manosarovar: Rs 2,200 per sq.ft (2024)
• Thiruneermalai Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumangaiyalvarpuram, Ambedkar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumangaiyalvarpuram, Ambedkar Salai?

The Sub Registrar Office that covers Thirumangaiyalvarpuram, Ambedkar Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This process aids in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Thirumangaiyalvarpuram, Ambedkar Salai?

The current guideline value for Thirumangaiyalvarpuram, Ambedkar Salai is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen increases from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. This indicates a total increase of 64% from 2017 to 2024.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which means that the guideline value of Thirumangaiyalvarpuram, Ambedkar Salai is below this median.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Thirumangaiyalvarpuram?

The Pammal Sub Registrar Office handles property registrations for Thirumangaiyalvarpuram, Ambedkar Salai. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.