Guideline Value for THIRUMAGAL NAGAR

Thirumagal Nagar guideline value

The current guideline value of Thirumagal Nagar is Rs 480 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village, under the Redhills SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thirumagal Nagar has changed

In the 2012 revision, the guideline value was Rs 450 per sq.ft. This value decreased to Rs 301 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 450 per sq.ft, reflecting a 50% increase. The most recent revision in 2024 set the value at Rs 480 per sq.ft, which is a 7% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing Thirumagal Nagar's 2024 figure above that median.

• Thirumathi. Sonia Avenue: Rs 440 per sq.ft (2024)
• Thirumathi Sonia New Extention: Rs 440 per sq.ft (2024)
• Thirupathi Nagar: Rs 550 per sq.ft (2024)
• Thiruppathi Nagar Extn.: Rs 770 per sq.ft (2024)
• Thanjai Sengunthar Nagar: Rs 440 per sq.ft (2024)
• Thanjai Nagar Extention: Rs 440 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 480 per sq.ft, the total guideline value would be Rs 4,80,000. The stamp duty at 7% would amount to Rs 33,600, and the registration fee at 2% would be Rs 9,600. Together, these fees would total Rs 43,200. 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 Sub Registrar Office that covers Thirumagal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Vilangadupakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid any discrepancies during registration. The fees are calculated based on this value, which is crucial for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar?

The current guideline value of Thirumagal Nagar is Rs 480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2012 to Rs 301 per sq.ft in 2017, then increased to Rs 450 per sq.ft in 2023, and finally to Rs 480 per sq.ft in 2024.

What is the land classification for Thirumagal Nagar?

Thirumagal Nagar is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Thirumagal Nagar?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.