Guideline Value for Thurairaj Lane

Thurairaj Lane guideline value

The current guideline value of Thurairaj Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Palavanthangal village under the Alandur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Thurairaj Lane has changed

Over the years, the guideline value of Thurairaj Lane has seen significant changes. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision, marking a 100% increase. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Thurairaj Lane's 2024 figure below this median.

• Thurairaj Sreet: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Thillai Ganga Nagar First Main Road: Rs 5,000 per sq.ft (2024)
• Thillai Ganga Nagar 9th street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thurairaj Lane

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, making the total cost for these fees Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thurairaj Lane?

The Sub Registrar Office that covers Thurairaj Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Palavanthangal. It is used to determine the stamp duty and registration fees applicable during the buying or selling of property in the area. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered.

When purchasing property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Thurairaj Lane?

The current guideline value of Thurairaj Lane 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 changed from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for Thurairaj Lane?

The land classification for Thurairaj Lane is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thurairaj Lane?

The Sub Registrar Office for Thurairaj Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Thurairaj Lane?

Stamp duty for properties in Thurairaj Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 at the current guideline value.