Guideline Value for THIRUKUMARAN NAGAR

Thirukumaran Nagar guideline value

The current guideline value of Thirukumaran Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Neikuppam village and falls under the Walajabad SRO. The land classification for this locality is Residential Class I Type - II.

How the guideline value of Thirukumaran Nagar has changed

The guideline value for Thirukumaran Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision maintained the guideline value at Rs 100 per sq.ft, which remained unchanged in the 2024 revision, indicating a 50% drop from the 2017 value and a significant overall decrease of 67% from the 2012 figure.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Therefore, the most recent revisions provide the current guideline value, which reflects a stable rate from 2023 to 2024.

Guideline values in Neikuppam

Currently, there are no specific village figures available for Neikuppam. Thirukumaran Nagar is the only street mentioned under the Walajabad SRO in this context.

Stamp duty and registration fee for property in Thirukumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirukumaran Nagar?

The Sub Registrar Office covering Thirukumaran Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neikuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirukumaran Nagar?

The current guideline value of Thirukumaran Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has decreased from Rs 300 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, marking a total decline of 67% over this period.

What are the stamp duty rates for properties in Thirukumaran Nagar?

The stamp duty for properties in Thirukumaran Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and is used as a basis for calculating stamp duty and registration fees during property transactions.