Guideline Value for Thirumazhisai Street

Thirumazhisai Street guideline value

The current guideline value of Thirumazhisai Street in Selaiyur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Thirumazhisai Street has changed

The guideline value for Thirumazhisai Street has seen several revisions over the years. The earliest recorded value was Rs 450 per sq.ft in 2007, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value decreased to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 represented a substantial increase of 122%. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 value of Thirumazhisai Street below this median.

• Thirumazhisai Ist Main Road: Rs 1,100 per sq.ft (2024)
• Thirumangai Mannan Street: Rs 3,500 per sq.ft (2024)
• Thirumurugan Street: Rs 1,100 per sq.ft (2024)
• Thiruppanar Street: Rs 2,400 per sq.ft (2024)
• Thirupur Kumaran Poonka Street: Rs 950 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumazhisai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumazhisai Street?

The Thirumazhisai Street is covered by 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 Selaiyur

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is used to calculate these costs, ensuring compliance with local regulations.

When registering a property, the guideline value helps in assessing the official value of the property, which may differ from the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumazhisai Street?

The current guideline value of Thirumazhisai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 144% over the years.

What is the land classification of Thirumazhisai Street?

Thirumazhisai Street is classified as Residential Class IV Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Thirumazhisai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total cost of Rs 99,000 for stamp duty and registration fees combined.