Guideline Value for Thiruneelaganda Nagar IInd Part

Thiruneelaganda Nagar IInd Part guideline value

The current guideline value for Thiruneelaganda Nagar IInd Part is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thiruneelaganda Nagar IInd Part has changed

The guideline value for Thiruneelaganda Nagar IInd Part has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 110 per sq.ft. It increased to Rs 300 per sq.ft in 2007, followed by a significant jump to Rs 1,500 per sq.ft in 2012. However, the value decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft. The register has no figure for this street in 2002.

In terms of changes, the value increased by 173% from 2003 to 2007, followed by a 400% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, before rising by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 1400% from 2003 to 2024.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for Thiruneelaganda Nagar IInd Part is above this median.

• Thiruneelaganda Nagar 3rd Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 1st Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar: 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 IInd Part

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 accurate calculations.

Which Sub Registrar Office covers Thiruneelaganda Nagar IInd Part?

The Sub Registrar Office that covers Thiruneelaganda Nagar IInd 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 is an essential factor when registering property transactions in Puzhal. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, it is crucial to understand that the guideline value may influence the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the appropriate fees are calculated accurately.

Frequently asked questions

What is the current guideline value of Thiruneelaganda Nagar IInd Part?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 110 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 1400%.

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

Other streets in Puzhal with similar guideline values include Thiruneelaganda Nagar 1st Part and Thiruneelaganda Nagar 3rd Part, both also valued at Rs 1,650 per sq.ft in 2024.

What is the registration fee for property in Thiruneelaganda Nagar IInd Part?

The registration fee for property in Thiruneelaganda Nagar IInd Part is calculated at 2% of the guideline value, along with a stamp duty of 7% on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Thiruneelaganda Nagar IInd Part?

The Sub Registrar Office for Thiruneelaganda Nagar IInd Part is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.