Guideline Value for Thiruneelagandan Nagar

Thiruneelagandan Nagar guideline value

The current guideline value of Thiruneelagandan Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thiruneelagandan Nagar has changed

The guideline value for Thiruneelagandan Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 42 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then saw a substantial rise to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. The value rose again to Rs 400 per sq.ft in 2023 and finally reached Rs 440 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 376% from 2003 to 2007, decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 was an increase of 10%. Overall, from 2003 to 2024, the guideline value has increased by 948%. The register has no figure for this street for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median of Rs 660 per sq.ft. Thiruneelagandan Nagar's 2024 guideline value is below this median.

• Thiruneelakandar fourth Part: Rs 660 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thanikachalam Street: Rs 660 per sq.ft (2024)
• TamilNadu Dyes and Chemicals Merchants Association Nagar: Rs 660 per sq.ft (2024)
• Swasthik Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneelagandan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruneelagandan Nagar?

The Sub Registrar Office that covers Thiruneelagandan 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 Grandlyon

The guideline value is a critical component in the registration process of property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is taken into account to ensure that the transaction is recorded at a value that reflects the prevailing rates in the area. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruneelagandan Nagar?

The current guideline value of Thiruneelagandan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 42 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 948% over the years.

What is the land classification for Thiruneelagandan Nagar?

The land classification for Thiruneelagandan Nagar is Residential Class III Type - I.

What are the stamp duty and registration fees for a property in Thiruneelagandan Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Thiruneelagandan Nagar?

The Redhills Sub Registrar Office handles property registrations for Thiruneelagandan Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.