Guideline Value for SREE THIRUMALAI NAGAR

Sree Thirumalai Nagar guideline value

The current guideline value of Sree Thirumalai Nagar is Rs 879 per sq.ft, effective from 1 July 2024. This locality is situated in Periyakuppam village under the Tiruvallur Joint 1 SRO, with a land classification of Residential Special Type - IV.

How the guideline value of Sree Thirumalai Nagar has changed

The guideline value for Sree Thirumalai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, in the 2023 revision, the value increased to Rs 800 per sq.ft, and then to Rs 879 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sree Thirumalai Nagar is below this median.

• Sozhan Street: Rs 1,100 per sq.ft (2024)
• Sowbhagyam Nagar: Rs 879 per sq.ft (2024)
• Skp - Nagar: Rs 879 per sq.ft (2024)
• Sivasubramaniyam Street: Rs 550 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,100 per sq.ft (2024)
• Siddi Vinayagar Kovil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Thirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 879 per sq.ft, the total guideline value would be Rs 8,79,000. The stamp duty at 7% would amount to Rs 61,530, and the registration fee at 2% would be Rs 17,580, making the total charges Rs 79,110. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sree Thirumalai Nagar?

Sree Thirumalai Nagar falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sree Thirumalai Nagar?

The current guideline value of Sree Thirumalai Nagar is Rs 879 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 879 per sq.ft in 2024.

What are the guideline values for other streets in Periyakuppam?

Other streets in Periyakuppam have varying guideline values, with Sozhan Street at Rs 1,100 per sq.ft, Sowbhagyam Nagar and Skp - Nagar both at Rs 879 per sq.ft, and Sivasubramaniyam Street at Rs 550 per sq.ft.

How are stamp duty and registration fees calculated in Sree Thirumalai Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Sree Thirumalai Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Sree Thirumalai Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.