Guideline Value for Thirupurkumaran Lane

Thirupurkumaran Lane guideline value

The current guideline value of Thirupurkumaran Lane is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thirupurkumaran Lane has changed

The guideline value for Thirupurkumaran Lane has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,300 per sq.ft. In 2017, the value decreased to Rs 1,541 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,300 per sq.ft in 2023, and further rose to Rs 2,500 per sq.ft in 2024, representing a 9% increase.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023 and an overall increase of 9% from 2012 to 2024.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Thirupurkumaran Lane.

• Thirupur Kumarn 1st Street: Rs 2,500 per sq.ft (2024)
• Thirupur Kumarn 2nd Street: Rs 2,500 per sq.ft (2024)
• Thirupur Kumarn 3rd Street: Rs 2,500 per sq.ft (2024)
• Thiruvallur Street (Erukkancherry): Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupurkumaran Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirupurkumaran Lane?

The Sub Registrar Office that covers Thirupurkumaran Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Erukancherry. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

This value is essential for both buyers and sellers as it influences the overall cost involved in the property transaction. It helps in determining the legal obligations and financial responsibilities associated with the sale or purchase of property in the area.

Frequently asked questions

What is the current guideline value of Thirupurkumaran Lane?

The current guideline value of Thirupurkumaran Lane is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Thirupurkumaran Lane?

The land classification for Thirupurkumaran Lane is Residential Class III Type - I.

What is the stamp duty rate applicable in Thirupurkumaran Lane?

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

Which office handles registrations for properties in Thirupurkumaran Lane?

The Madhavaram Sub Registrar Office handles registrations for properties in Thirupurkumaran Lane, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.