Guideline Value for THIRUMAGAL NAGAR

Thirumagal Nagar guideline value

The current guideline value of Thirumagal Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Medur village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I 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 oldest recorded revision is from 2017, where the value was Rs 167 per sq.ft. In 2023, the value increased to Rs 250 per sq.ft, and it remained the same in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 50% increase in the guideline value, and the overall change from 2017 to 2024 is also a 50% increase. The 2023 to 2024 revision, however, shows no change, with the value remaining at Rs 250 per sq.ft.

Guideline values in Medur

In Medur village, there are six streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 450 per sq.ft. The median guideline value for these streets is Rs 225 per sq.ft, placing Thirumagal Nagar above this median.

• Royal Green city Phase -III: Rs 200 per sq.ft (2024)
• New Bhairavi Garden: Rs 200 per sq.ft (2024)
• Mani Naidu Garden: Rs 450 per sq.ft (2024)
• Lucky Star City: Rs 250 per sq.ft (2024)
• A.R.Garden: Rs 200 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important 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 Thirumagal Nagar?

The Thirumagal Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Medur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the overall transaction costs. Buyers should ensure that they are prepared to pay the appropriate fees based on the guideline value established for the property.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar?

The current guideline value of Thirumagal Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 50% increase from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2024. The value remained the same between the 2023 and 2024 revisions.

What are the other streets in Medur with their guideline values?

In Medur, other streets have varying guideline values ranging from Rs 200 to Rs 450 per sq.ft. Notably, Thirumagal Nagar's value is above the median of Rs 225 per sq.ft for the area.

How is stamp duty calculated for properties in Thirumagal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at 7%.

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

The Ponneri Sub Registrar Office, which covers Thirumagal Nagar, is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details online.