Guideline Value for hirumagal Nagar 2st Street

hirumagal Nagar 2st Street guideline value

The current guideline value of hirumagal Nagar 2st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of hirumagal Nagar 2st Street has changed

Over the years, the guideline value of hirumagal Nagar 2st Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The subsequent 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making the current value of hirumagal Nagar 2st Street equal to this median.

• Homes Road: Rs 4,400 per sq.ft (2024)
• Ibrahim Street: Rs 1,650 per sq.ft (2024)
• Ilango St: Rs 1,650 per sq.ft (2024)
• Hasimin Street: Rs 1,650 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,650 per sq.ft (2024)
• Indra Nagar ( Bharatha Madha St): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in hirumagal Nagar 2st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers hirumagal Nagar 2st Street?

The Sub Registrar Office that covers hirumagal Nagar 2st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's value.

When a property is sold, the guideline value helps in calculating the applicable taxes and fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of hirumagal Nagar 2st Street?

The current guideline value of hirumagal Nagar 2st Street is Rs 1,650 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 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the land classification of hirumagal Nagar 2st Street?

Hirumagal Nagar 2st Street is classified under Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for hirumagal Nagar 2st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the stamp duty and registration fees that must be paid during a transaction.