Guideline Value for SRI THIRUMALAI NAGAR

Sri Thirumalai Nagar guideline value

The current guideline value of Sri Thirumalai Nagar is Rs 302 per sq.ft, effective from 1 July 2024. This area is located in Jeganathapuram_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Thirumalai Nagar has changed

The guideline value for Sri Thirumalai Nagar has undergone several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft. The most recent revision in 2024 saw a slight increase of 1%, bringing the guideline value to Rs 302 per sq.ft.

Comparing the revisions, the guideline value increased from Rs 300 per sq.ft in 2023 to Rs 302 per sq.ft in 2024. This change reflects a 1% rise in the guideline value for the street.

Guideline values in Jeganathapuram_2

In Jeganathapuram_2, there are four streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 302 to Rs 1,500 per sq.ft. The median guideline value in this village is Rs 514 per sq.ft, positioning Sri Thirumalai Nagar's 2024 figure below that median.

• Mahalakshmi Nagar: Rs 725 per sq.ft (2024)
• Madhavan Nagar: Rs 302 per sq.ft (2024)
• Jayadev: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Thirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 302 per sq.ft, the total guideline value would be Rs 3,02,000. The stamp duty at 7% would be Rs 21,140, and the registration fee at 2% would be Rs 6,040, bringing the total cost for these fees to Rs 27,180. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Sri Thirumalai Nagar?

The Sub Registrar Office that covers Sri Thirumalai Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Jeganathapuram_2

The guideline value plays a crucial role in the registration process when buying or selling property in Jeganathapuram_2. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees based on the higher value between the guideline value and the sale price. 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 Sri Thirumalai Nagar?

The current guideline value of Sri Thirumalai Nagar is Rs 302 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2023 to Rs 302 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sri Thirumalai Nagar?

Sri Thirumalai Nagar is classified as Residential Class II Type - I. This classification affects the guideline value and potential uses of the land.

Where can I find the registration office for Sri Thirumalai Nagar?

The registration office covering Sri Thirumalai Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated in Sri Thirumalai Nagar?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a property valued at Rs 3,02,000, the stamp duty would be Rs 21,140 at a rate of 7%.