Guideline Value for Thirumurugan Street

Thirumurugan Street guideline value

The current guideline value of Thirumurugan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV 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 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, the value then decreased to Rs 670 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 1,000 per sq.ft, and the latest 2024 revision has increased it to Rs 1,100 per sq.ft.

Between these revisions, notable changes include a 122% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thirumurugan Street's 2024 guideline value of Rs 1,100 per sq.ft is below this median.

• Thirumazhisai Street: Rs 1,100 per sq.ft (2024)
• Thirumazhisai Ist Main Road: Rs 1,100 per sq.ft (2024)
• Thirumangai Mannan Street: Rs 3,500 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 Thirumurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which totals Rs 77,000, and the registration fee is 2%, amounting to Rs 22,000. Together, the total fees would be Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumurugan Street?

The Sub Registrar Office that covers Thirumurugan Street is 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 in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirumurugan Street?

The current guideline value of Thirumurugan 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, reflecting several revisions over the years.

What are the other streets in Selaiyur and their guideline values?

Other streets in Selaiyur include Thirumazhisai Street and Thirumazhisai Ist Main Road, both at Rs 1,100 per sq.ft, as well as Thirumangai Mannan Street at Rs 3,500 per sq.ft, among others.

How is stamp duty calculated for properties in Thirumurugan Street?

Stamp duty for properties in Thirumurugan Street is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applied.

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

The Sub Registrar Office for Thirumurugan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.