Guideline Value for Thirupur kumaran street

Thirupur kumaran street guideline value

The current guideline value of Thirupur kumaran street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thirupur kumaran street has changed

The guideline value for Thirupur kumaran street has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a remarkable increase of 1233%. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1367%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value of Thirupur kumaran street.

• Thirumal Nagar First Main Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar Ext: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 6th Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 4th And 5th Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 3rd Cross Street: Rs 2,740 per sq.ft (2024)
• Thirumal Nagar 2nd Main Street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupur kumaran street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be 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 Thirupur kumaran street?

The Sub Registrar Office that covers Thirupur kumaran street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately in the public register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any potential legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Thirupur kumaran street?

The current guideline value of Thirupur kumaran 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 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing a significant increase over the years with various revisions.

What is the land classification for Thirupur kumaran street?

Thirupur kumaran street is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056, and it is responsible for property registrations in the area.

How is stamp duty calculated for properties in Thirupur kumaran street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.