Guideline Value for Thiruneermalai Street

Thiruneermalai Street guideline value

The current guideline value of Thiruneermalai Street in Kadaperi village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Thiruneermalai Street has changed

The guideline value for Thiruneermalai Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

The register for the years 2002 and 2003 does not contain any figures for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making Thiruneermalai Street's 2024 figure above that median.

• Thiruneermalai Road: Rs 2,200 per sq.ft (2024)
• Thiru Valluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thiru Valluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thiru Valluvar 4th Street: Rs 3,300 per sq.ft (2024)
• Thiru Valluvar 5th Street: Rs 3,300 per sq.ft (2024)
• Thiru Valluvar Ist Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruneermalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 Thiruneermalai Street?

The Sub Registrar Office that covers Thiruneermalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kadaperi, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the property transfer process.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. Hence, understanding the guideline value is essential for both buyers and sellers to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Thiruneermalai Street?

The current guideline value of Thiruneermalai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the registration fee for properties on Thiruneermalai Street?

The registration fee for properties on Thiruneermalai Street is calculated based on the guideline value, which is currently Rs 2,200 per sq.ft. The registration fee is typically 2% of the guideline value.

Which office handles property registrations for Thiruneermalai Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Thiruneermalai Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for determining the minimum sale price of a property and is used to calculate the stamp duty and registration fees during property transactions in Kadaperi.