Guideline Value for Thiruneelaganda Nagar

Thiruneelaganda Nagar guideline value

The current guideline value of Thiruneelaganda Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Thiruneelaganda Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 756 per sq.ft. This increased to Rs 78 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 1,500 per sq.ft in 2012, but saw a decrease 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 revision in 2024 has raised it to Rs 1,650 per sq.ft.

Between these revisions, there have been notable changes. From 2002 to 2003, the value decreased by 90%. However, from 2003 to 2007, it increased by 285%, and from 2007 to 2012, it saw a rise of 400%. The value then decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 118% from 2002 to 2024.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing Thiruneelaganda Nagar's 2024 figure above that median.

• Thiruneelaganda Nagar 1st Part: 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

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, resulting in a total of 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruneelaganda Nagar?

The Sub Registrar Office that covers Thiruneelaganda Nagar 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 a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the current market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Thiruneelaganda Nagar?

The current guideline value of Thiruneelaganda Nagar 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 several times, starting from Rs 756 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 118% over this period.

What is the registration office for Thiruneelaganda Nagar?

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

How is the stamp duty calculated for properties in Thiruneelaganda Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.

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

Other streets in Puzhal include Thiruneelaganda Nagar 1st Part, Thiruneelaganda Nagar 3rd Part, and Thiruneelaganda Nagar IInd Part, all with a guideline value of Rs 1,650 per sq.ft. Other streets like Thiruppur Kumaran Street have a guideline value of Rs 1,100 per sq.ft.