Guideline Value for Thirumurugan Street

Thirumurugan Street guideline value

The current guideline value of Thirumurugan Street in Kilkattalai village, under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thirumurugan Street has changed

The guideline value for Thirumurugan Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 196 per sq.ft. This increased to Rs 300 per sq.ft in 2007, followed by a significant rise to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,160 per sq.ft from the 2024 revision, reflecting an 8% increase from the previous year.

In summary, from the 2003 revision to the 2024 revision, the overall increase in the guideline value for Thirumurugan Street is 1002%. Notably, there is no recorded figure for the year 2002 in the register for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Thirumurugan Street's 2024 figure below this median.

• Thirumurugan S.R.V.S.Colony: Rs 2,530 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 2,160 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 2,530 per sq.ft (2024)
• Thiruvenkadamudaiyan Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers Thirumurugan Street?

The Sub Registrar Office that covers Thirumurugan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kilkattalai

The guideline value is a critical factor in property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value helps ensure that the fees are based on a standardized valuation of the property rather than on potentially inflated sale prices.

When selling a property, the guideline value can also influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a fair transaction.

Frequently asked questions

What is the current guideline value of Thirumurugan Street?

The current guideline value of Thirumurugan Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 196 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting a significant overall increase of 1002% over the years.

What is the land classification for Thirumurugan Street?

Thirumurugan Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Thirumurugan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value of the property. For example, on a 1,000 sq.ft plot at Rs 2,160 per sq.ft, the total fees would amount to Rs 1,94,400.