Guideline Value for Thiruneelakandar fourth Part

Thiruneelakandar fourth Part guideline value

The current guideline value of Thiruneelakandar fourth Part is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruneelakandar fourth Part has changed

The guideline value for Thiruneelakandar fourth Part has undergone several revisions over the years. In 2003, the guideline value was Rs 42 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2007, marking a change of +614%. The value then rose to Rs 600 per sq.ft in 2012, representing a +100% increase. However, it decreased to Rs 402 per sq.ft in 2017, which was a decline of -33%. The guideline value then increased to Rs 600 per sq.ft in 2023, reflecting a +49% change. The most recent revision in 2024 has set the value at Rs 660 per sq.ft, which is a +10% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +1471%.

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. The median value is Rs 660 per sq.ft, which aligns with the guideline value for Thiruneelakandar fourth Part.

• Thiruneelagandan Nagar: Rs 440 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 Thiruneelakandar fourth Part

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruneelakandar fourth Part?

The Sub Registrar Office that covers Thiruneelakandar fourth 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 details.

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

The guideline value plays a crucial role in property transactions in Grandlyon. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid. This ensures that the government receives the appropriate revenue from property transactions.

During the registration process, the guideline value is compared with the sale price, and the higher of the two values is used for calculating the applicable duties and fees. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Thiruneelakandar fourth Part?

The current guideline value for Thiruneelakandar fourth Part is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 42 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, which is an overall increase of +1471%.

What is the registration office for Thiruneelakandar fourth Part?

The registration office for Thiruneelakandar fourth Part is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Thiruneelakandar fourth Part?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.

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

Other streets in Grandlyon include Thiruneelagandan Nagar at Rs 440 per sq.ft, Thiruppur Kumaran Street and Thiruvalluvar Street at Rs 770 per sq.ft, and Thanikachalam Street and TamilNadu Dyes and Chemicals Merchants Association Nagar at Rs 660 per sq.ft.