Guideline Value for Thirupur Kumaran First Street

Thirupur Kumaran First Street guideline value

The current guideline value of Thirupur Kumaran First Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thirupur Kumaran First Street has changed

The guideline value for Thirupur Kumaran First Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,383 per sq.ft. This figure decreased significantly to Rs 140 per sq.ft in 2003, marking a decline of 90%. The value then rose to Rs 300 per sq.ft in 2007, an increase of 114%. By 2012, it further increased to Rs 800 per sq.ft, showing a growth of 167%. However, in 2017, the value dropped to Rs 536 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 set the value at Rs 1,000 per sq.ft, which was a substantial increase of 87% from the previous figure. Finally, the current guideline value of Rs 1,100 per sq.ft was established in 2024, representing a 10% increase from 2023.

There are no figures available for the years not mentioned in the revisions. Thus, the guideline values for the years prior to 2002 and after 2024 are not applicable.

Guideline values in Puzhal

In Puzhal, there are a total of 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, which means that Thirupur Kumaran First Street's 2024 figure is below that median.

• Thirupur Kumaran 2nd Street: Rs 1,100 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 1,100 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar IInd Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 3rd Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 1st Part: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupur Kumaran First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please 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 Thirupur Kumaran First Street?

The Sub Registrar Office that covers Thirupur Kumaran First Street 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thirupur Kumaran First Street?

The current guideline value of Thirupur Kumaran First Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,383 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Thirupur Kumaran First Street?

The land classification for Thirupur Kumaran First Street is Residential Class II Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Thirupur Kumaran First Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thirupur Kumaran First Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.