Guideline Value for THIRUMALA NAGAR PHASE-I

Thirumala Nagar Phase-I guideline value

The current guideline value of Thirumala Nagar Phase-I is Rs 870 per sq.ft, effective from 1 July 2024. This locality is situated in Thiruninravur-B village and falls under the Avadi Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Thirumala Nagar Phase-I has changed

The guideline value for Thirumala Nagar Phase-I has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 800 per sq.ft, which was then increased to Rs 870 per sq.ft in the 2024 revision, marking a change of +9%.

With the 2024 revision, the current guideline value stands at Rs 870 per sq.ft. Prior to this, the 2023 revision reflected a value of Rs 800 per sq.ft. The increase from 2023 to 2024 signifies a notable adjustment in the guideline value for this locality.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that Thirumala Nagar Phase-I's 2024 figure is above this median.

• Thirumala Nagar: Rs 990 per sq.ft (2024)
• Thirumala Nagar Phase-II: Rs 870 per sq.ft (2024)
• Thirumurugan Nagar Extn: Rs 770 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,190 per sq.ft (2024)
• THIRUVALLUR to CHENNAI HIGH ROAD: Rs 1,760 per sq.ft (2024)
• Theruveethiyamman Koil St: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumala Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 870 per sq.ft, the total guideline value amounts to Rs 8,70,000. The stamp duty is charged at 7%, resulting in Rs 60,900, while the registration fee at 2% comes to Rs 17,400. Therefore, the total cost for stamp duty and registration fee together is Rs 78,300. 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 further calculations.

Which Sub Registrar Office covers Thirumala Nagar Phase-I?

The Thirumala Nagar Phase-I area is covered by the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor when registering property transactions in Thiruninravur-B. It serves as a benchmark for determining the value of the property being sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller approaches the registration office, the guideline value assists in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Thirumala Nagar Phase-I?

The current guideline value of Thirumala Nagar Phase-I is Rs 870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 870 per sq.ft in 2024, reflecting a +9% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Thirumala Nagar Phase-I?

The land classification for Thirumala Nagar Phase-I is Residential Class II Type - II, indicating its designation for residential use.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Thirumala Nagar Phase-I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,70,000, the stamp duty at 7% amounts to Rs 60,900.