Guideline Value for Thirumurugan Street

Thirumurugan Street guideline value

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

How the guideline value of Thirumurugan Street has changed

The guideline value for Thirumurugan Street has experienced several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Thirumurugan Street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, placing Thirumurugan Street's 2024 figure above this median.

• Thirumurugan Salai: Rs 3,850 per sq.ft (2024)
• ThirumuruganNagar ramanar street: Rs 2,750 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees Rs 3,46,500. 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 details on fees applicable to your property transactions.

Which Sub Registrar Office covers Thirumurugan Street?

The Sub Registrar Office that covers Thirumurugan Street 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 plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue based on the established guideline values for various streets.

When selling a property, the guideline value can also influence the sale price, as it serves as a benchmark for both buyers and sellers. Understanding the guideline value is essential for anyone looking to engage in real estate 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 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 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Thirumurugan Street?

Thirumurugan Street is classified as Residential Special Type - II, indicating its suitability for residential developments.

Where can I find the registration office for Thirumurugan Street?

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

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,50,000, the stamp duty would be 7% of that amount.