Guideline Value for Thulasi Ammal Street

Thulasi Ammal Street guideline value

The current guideline value of Thulasi Ammal Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Thulasi Ammal Street has changed

Over the years, the guideline value of Thulasi Ammal Street has seen several revisions. The earliest recorded value is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,750 per sq.ft in 2024. The register has no figure for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the increase is 10%. The fluctuations in the values indicate a dynamic adjustment in the guideline value over the years.

Guideline values in Nesapakkam

Nesapakkam village has 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Thulasi Ammal Street's 2024 figure below that median.

• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar Road: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street lane: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thulasi Ammal Street?

The Sub Registrar Office that covers Thulasi Ammal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees. This ensures that all transactions are conducted fairly and transparently, based on the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thulasi Ammal Street?

The current guideline value of Thulasi Ammal Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, then increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,750 per sq.ft in 2024.

What are the other streets in Nesapakkam?

Other streets in Nesapakkam include Thiruvalluvar Street, Thiruvalluvar Road, Thiruvalluvar 3rd Street lane, Thiruvalluvar 3rd Street, Thiruvalluvar 2nd Street, and Thiruvalluvar 1st Street, all with a guideline value of Rs 4,950 per sq.ft in 2024.

How is stamp duty calculated for properties in Thulasi Ammal 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 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

Where can I find the Sub Registrar Office for Thulasi Ammal Street?

The Sub Registrar Office for Thulasi Ammal Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of property transactions in the area.