Guideline Value for Thulasinghapuram

Thulasinghapuram guideline value

The current guideline value of Thulasinghapuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification is Residential Class II Type - II.

How the guideline value of Thulasinghapuram has changed

The guideline value for Thulasinghapuram has undergone several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased to Rs 320 per sq.ft in 2003. The value saw a significant rise to Rs 750 per sq.ft in 2007, followed by a jump to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and the most recent revision set it at Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 10%. The largest increase occurred between 2007 and 2012, with a rise of 300%. Overall, from 2002 to 2024, the guideline value has increased by 1298%. There are no figures available for revisions other than those mentioned for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Thulasinghapuram's 2024 figure below that median.

• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Ussain Subedhar Street: Rs 3,850 per sq.ft (2024)
• Valluvar Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)
• Vedagiri Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasinghapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thulasinghapuram?

The Sub Registrar Office that covers Thulasinghapuram is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thulasinghapuram?

The current guideline value of Thulasinghapuram is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

What are the other streets in Parangimalai and their guideline values?

Other streets in Parangimalai include Thiruvalluvar Street, Thiruvalluvar Ist, II nd, IIIrd Lane, Ussain Subedhar Street, Valluvar Street, and Vedagiri Street, with values ranging from Rs 3,300 to Rs 3,850 per sq.ft in 2024.

What is the registration fee for property in Thulasinghapuram?

The registration fee for property in Thulasinghapuram is 2% of the guideline value. For example, on a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where is the Sub Registrar Office for Thulasinghapuram located?

The Sub Registrar Office for Thulasinghapuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.