Guideline Value for Thiruneelaganda Nagar 1st Part

Thiruneelaganda Nagar 1st Part guideline value

The current guideline value of Thiruneelaganda Nagar 1st Part is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Thiruneelaganda Nagar 1st Part has changed

Over the years, the guideline value of Thiruneelaganda Nagar 1st Part has seen several revisions. In 2002, the guideline value was Rs 756 per sq.ft, which increased to Rs 78 per sq.ft in 2003. This was followed by a significant rise to Rs 300 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

The changes between these revisions indicate a +400% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. The value rose by +49% from 2017 to 2023 and then increased by +10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +118%.

Guideline values in Puzhal

Puzhal village has 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Thiruneelaganda Nagar 1st Part's 2024 figure above that median.

• Thiruneelaganda Nagar: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 3rd Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar IInd Part: Rs 1,650 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 1,100 per sq.ft (2024)
• Thirupur Kumaran 2nd Street: Rs 1,100 per sq.ft (2024)
• Thirupur Kumaran First Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneelaganda Nagar 1st Part

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruneelaganda Nagar 1st Part?

The Sub Registrar Office covering Thiruneelaganda Nagar 1st Part is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Puzhal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable duties and fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiruneelaganda Nagar 1st Part?

The current guideline value of Thiruneelaganda Nagar 1st Part is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 756 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing an overall increase of +118% over this period.

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with a guideline value of Rs 1,650 per sq.ft include Thiruneelaganda Nagar 3rd Part and Thiruneelaganda Nagar IInd Part.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Puzhal?

Stamp duty in Puzhal is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.