Guideline Value for THIRUMAGAL NAGAR

Thirumagal Nagar guideline value

The current guideline value for Thirumagal Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Puzhuthivakkam village and falls under the Madurandakam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Thirumagal Nagar has changed

The guideline value for Thirumagal Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 200 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 134 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also set the guideline value at Rs 200 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 200 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Thirumagal Nagar's 2024 figure aligns with this median value.

• Thirumalai Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)
• Vip City: Rs 250 per sq.ft (2024)
• VIP CITY in RDS GARDEN: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumagal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumagal Nagar?

The Sub Registrar Office that covers Thirumagal Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference for determining the minimum price at which a property can be registered in Puzhuthivakkam. It serves as a basis for calculating stamp duty and registration fees during property transactions.

When buying or selling property, it is crucial to understand that the guideline value may influence the final sale price. Buyers should be aware that the registration process will consider the guideline value or the actual sale price, whichever is higher, for calculating applicable duties and fees.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar?

The current guideline value of Thirumagal Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft in 2024 and 2023, increased from Rs 134 per sq.ft in 2017, and was Rs 200 per sq.ft in 2012. There was a decrease of 33% from 2012 to 2017.

What is the land classification for Thirumagal Nagar?

The land classification for Thirumagal Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Thirumagal Nagar?

The Sub Registrar Office for Thirumagal Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for property in Thirumagal Nagar?

Stamp duty for property in Thirumagal Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft would incur a total stamp duty and registration fee of Rs 18,000.