Guideline Value for ThirumuruganNagar ramanar street

ThirumuruganNagar ramanar street guideline value

The current guideline value of ThirumuruganNagar ramanar street is Rs 2,750 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 Class I Type - II.

How the guideline value of ThirumuruganNagar ramanar street has changed

The guideline value for ThirumuruganNagar ramanar street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. However, this value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The fluctuations in the guideline value reflect changes in the real estate landscape and regulatory adjustments made by the authorities.

Guideline values in Chitlapakkam

In 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, with a median value of Rs 1,650 per sq.ft. ThirumuruganNagar ramanar street's 2024 guideline value of Rs 2,750 per sq.ft is above this median.

• Thirumurugan Salai: Rs 3,850 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 ThirumuruganNagar ramanar street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty charged at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ThirumuruganNagar ramanar street?

The Sub Registrar Office that covers ThirumuruganNagar ramanar 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 is a critical factor during the registration of property transactions in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall costs involved in the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of ThirumuruganNagar ramanar street?

The current guideline value of ThirumuruganNagar ramanar street is Rs 2,750 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 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024. The value saw a peak of Rs 2,500 per sq.ft in 2023 after a drop to Rs 1,675 per sq.ft in 2017.

What is the classification of ThirumuruganNagar ramanar street?

ThirumuruganNagar ramanar street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, and covers ThirumuruganNagar ramanar street.

How is the stamp duty calculated for properties in ThirumuruganNagar ramanar street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.