Guideline Value for THIRUMAL / THIRUMALAI NAGAR

Thirumal / Thirumalai Nagar guideline value

The current guideline value of Thirumal / Thirumalai Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Kolumanivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Thirumal / Thirumalai Nagar has changed

The guideline value for Thirumal / Thirumalai Nagar has undergone several revisions over the years. Starting with the 2012 revision, the value was set at Rs 1,100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 737 per sq.ft. However, the value saw a significant increase in the 2023 revision to Rs 1,100 per sq.ft, and further rose to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value for Thirumal / Thirumalai Nagar is below this median.

• Thirupathi Nagar: Rs 1,350 per sq.ft (2024)
• Suseelambal Nagar: Rs 1,210 per sq.ft (2024)
• Uday Nagar Part I: Rs 990 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 880 per sq.ft (2024)
• Sri Thirupathi Nagar Phase II & III: Rs 1,350 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal / Thirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumal / Thirumalai Nagar?

The Thirumal / Thirumalai Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolumanivakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value in Thirumal / Thirumalai Nagar?

The current guideline value in Thirumal / Thirumalai Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,100 per sq.ft in 2012, decreasing to Rs 737 per sq.ft in 2017, then increasing to Rs 1,100 per sq.ft in 2023, and finally reaching Rs 1,210 per sq.ft in 2024.

What is the land classification for Thirumal / Thirumalai Nagar?

The land classification for Thirumal / Thirumalai Nagar is Residential Special Type - I.

Which Sub Registrar Office covers Thirumal / Thirumalai Nagar?

The Kunrathur Sub Registrar Office covers Thirumal / Thirumalai Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property in Thirumal / Thirumalai 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 12,10,000, the stamp duty at 7% would be Rs 84,700.