Guideline Value for Thiruneermalai Mayana Salai

Thiruneermalai Mayana Salai guideline value

The current guideline value of Thiruneermalai Mayana Salai is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiruneermalai Mayana Salai has changed

The guideline value for Thiruneermalai Mayana Salai has seen several revisions over the years. In 2003, the guideline value was Rs 48 per sq.ft, which increased significantly to Rs 810 per sq.ft in 2007. The value then slightly decreased to Rs 804 per sq.ft in 2017, before rising to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, the changes are notable. From 2003 to 2007, there was an increase of +1588%. The value then saw a minor decrease of -1% from 2007 to 2017, followed by a substantial increase of +49% from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by +2650%. The register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for the village is Rs 2,420 per sq.ft, placing Thiruneermalai Mayana Salai's 2024 figure below that median.

• Thiruneermalai Main Road: Rs 3,300 per sq.ft (2024)
• Thirumangaiyalvarpuram, Thangavel Street: Rs 1,980 per sq.ft (2024)
• Thirumangaiyalvarpuram, Jagajeevanram Street: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Ambedkar Salai: Rs 1,320 per sq.ft (2024)
• Thirumangaialwarpuram: Rs 1,320 per sq.ft (2024)
• Thiruvalluar Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneermalai Mayana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruneermalai Mayana Salai?

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

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the eyes of the law. It is essential for setting the sale price and calculating the associated fees, making it a vital aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruneermalai Mayana Salai?

The current guideline value of Thiruneermalai Mayana Salai is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 48 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking a total increase of +2650% over the years.

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

Other streets in Thiruneermalai include Thiruneermalai Main Road at Rs 3,300 per sq.ft, and Thirumangaiyalvarpuram, Thangavel Street at Rs 1,980 per sq.ft, among others.

What is the stamp duty rate in Thiruneermalai?

The stamp duty rate in Thiruneermalai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiruneermalai Mayana Salai?

The Sub Registrar Office for Thiruneermalai Mayana Salai is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.