Guideline Value for Thurairaj Sreet

Thurairaj Sreet guideline value

The current guideline value of Thurairaj Sreet is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thurairaj Sreet has changed

Thurairaj Sreet has experienced several revisions in its guideline value over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,680 per sq.ft. The 2023 revision raised it to Rs 4,000 per sq.ft, and the most recent 2024 revision has increased it further to Rs 4,400 per sq.ft.

In terms of percentage changes, the value increased by 167% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, it rose by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 193%. 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, with a median value of Rs 3,900 per sq.ft. The guideline value for Thurairaj Sreet is above this median.

• Thurairaj Lane: Rs 3,300 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 Sreet

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thurairaj Sreet?

The Sub Registrar Office that covers Thurairaj Sreet is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Palavanthangal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a reference point to calculate these fees, ensuring that they are aligned with the current market standards.

It is important to note that the actual sale price of the property cannot be lower than the guideline value. This means that buyers and sellers must consider the guideline value when negotiating the sale price to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thurairaj Sreet?

The current guideline value of Thurairaj Sreet is Rs 4,400 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 4,400 per sq.ft in 2024, showing an overall increase of 193% during this period.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in this area?

The Alandur Sub Registrar Office handles property registrations for Thurairaj Sreet, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees. It serves as a minimum benchmark for the sale price of properties in the area.