Guideline Value for Thirumurugan Salai

Thirumurugan Salai guideline value

The current guideline value of Thirumurugan Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Thirumurugan Salai has changed

The guideline value for Thirumurugan Salai has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 3,500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and in the latest 2024 revision, it rose further to Rs 3,850 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. There was a substantial increase of 49% from 2017 to 2023. The decline from 2012 to 2017 was 33%, and overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Within Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Thirumurugan Salai's 2024 figure above this median.

• ThirumuruganNagar ramanar street: Rs 2,750 per sq.ft (2024)
• Thirumurugan Street: Rs 3,850 per sq.ft (2024)
• Thirunavukkasu Street: Rs 1,650 per sq.ft (2024)
• Thirumangai Mannan Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,650 per sq.ft (2024)
• Thirumagal Nagar Ist Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thirumurugan Salai?

The Sub Registrar Office that covers Thirumurugan Salai is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Thirumurugan Salai?

The current guideline value of Thirumurugan Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification of Thirumurugan Salai?

Thirumurugan Salai is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty rates applicable in Thirumurugan Salai?

The stamp duty rate applicable in Thirumurugan Salai is 7%, while the registration fee is 2%. These rates are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumurugan Salai?

The Sub Registrar Office for Thirumurugan Salai is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.