Guideline Value for Thiruneermalai Main Road

Thiruneermalai Main Road guideline value

The current guideline value of Thiruneermalai Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Thiruneermalai Main Road has changed

The guideline value for Thiruneermalai Main Road has seen significant increases over the years. The 2003 revision recorded a guideline value of Rs 238 per sq.ft, which rose to Rs 810 per sq.ft in 2007, marking a change of +240%. By 2017, the value increased to Rs 2,010 per sq.ft, a substantial rise of +148%. The 2023 revision set the value at Rs 3,000 per sq.ft, showing a +49% increase from 2017. The most recent revision in 2024 has further raised the value to Rs 3,300 per sq.ft, reflecting a +10% change from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1287%. It is important to note that the register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value across these streets is Rs 2,420 per sq.ft, placing Thiruneermalai Main Road's 2024 figure above that median.

• Thiruneermalai Mayana Salai: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Thangavel Street: Rs 1,980 per sq.ft (2024)
• Thirumangaiyalpuram, Jagajeevanram Street: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalpuram, Ambedkar Salai: Rs 1,320 per sq.ft (2024)
• Thirumangaialwarpuram: Rs 1,320 per sq.ft (2024)
• Thirumal Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneermalai Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is essential 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 further calculations.

Which Sub Registrar Office covers Thiruneermalai Main Road?

The Sub Registrar Office that covers Thiruneermalai Main Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When purchasing property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the sale.

Frequently asked questions

What is the current guideline value of Thiruneermalai Main Road?

The current guideline value of Thiruneermalai Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 238 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of +1287% over this period.

What are the other streets in Thiruneermalai and their guideline values?

Other streets in Thiruneermalai include Thiruneermalai Mayana Salai at Rs 1,320 per sq.ft, Thirumangaiyalvarpuram, Thangavel Street at Rs 1,980 per sq.ft, and several others, with values ranging from Rs 1,320 to Rs 2,200 per sq.ft.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at the rate of 7%.

Where can I find the Sub Registrar Office for Thiruneermalai Main Road?

The Sub Registrar Office for Thiruneermalai Main Road is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.