Guideline Value for Thiruneermalai Road

Thiruneermalai Road guideline value

The current guideline value of Thiruneermalai Road in Zaminpallavaram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Thiruneermalai Road has changed

The guideline value for Thiruneermalai Road has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,107 per sq.ft. In 2007, it increased significantly to Rs 1,834 per sq.ft, marking a change of +66%. The 2012 revision further raised the value to Rs 3,500 per sq.ft, reflecting a substantial increase of +91%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a +10% increase from the previous figure.

There are several years where the register has no figure for this street, specifically in 2023, 2017, and 2002. Overall, from 2003 to 2024, the guideline value has increased by +248%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Thiruneermalai Road's 2024 value above that median.

• Thirupathi Nagar: Rs 3,300 per sq.ft (2024)
• Thirumurugan Street: Rs 3,300 per sq.ft (2024)
• Thiruppur Kumaran Street (Near Somasundaram Street): Rs 2,750 per sq.ft (2024)
• Thiruppur Kumaran Street (Radha Nagar Main Road Southside): Rs 2,750 per sq.ft (2024)
• Thirumurugan Nagar 2nd Cross St.: Rs 3,300 per sq.ft (2024)
• Thirumurugan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneermalai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruneermalai Road?

The Thiruneermalai Road falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that transactions are documented accurately according to the government's regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers should be aware that the stamp duty is based on the higher of the guideline value or the actual sale price, which is an important consideration in any real estate transaction.

Frequently asked questions

What is the current guideline value of Thiruneermalai Road?

The current guideline value of Thiruneermalai Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,107 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +248% over this period.

What is the land classification of Thiruneermalai Road?

Thiruneermalai Road is classified as Mixed Type - I land according to the local regulations.

Where can I find the Pallavaram Sub Registrar Office?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties on Thiruneermalai Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.