Guideline Value for Thirumurugan Street

Thirumurugan Street guideline value

The current guideline value of Thirumurugan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thirumurugan Street has changed

The guideline value of Thirumurugan Street has seen significant changes over the years. In 2002, the value was Rs 368 per sq.ft, which increased to Rs 413 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,800 per sq.ft in 2007, marking an increase of 336%. The value then rose to Rs 4,000 per sq.ft in 2012, a 122% increase, but decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 has brought the guideline value to Rs 4,400 per sq.ft, reflecting a 64% increase from 2017.

The register has no figure for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1096%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value for Thirumurugan Street.

• Thirumurugan Street/Sakthi Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Lane: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Lane - I: Rs 3,850 per sq.ft (2024)
• Thilagar Street: Rs 3,850 per sq.ft (2024)
• Theradi Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

It is important for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thirumurugan Street?

The current guideline value of Thirumurugan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 368 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1096% over the years.

What is the land classification of Thirumurugan Street?

Thirumurugan Street is classified as Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Thirumurugan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000.