Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Thirumani village under the Chengleput Joint I SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Thirumalai Nagar has changed

Over the years, the guideline value for Thirumalai Nagar has undergone several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision saw a decrease to Rs 268 per sq.ft, marking a -33% change from the 2012 figure. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft.

The current revision for 2024 maintains the guideline value at Rs 400 per sq.ft, showing no change 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.

Guideline values in Thirumani

In Thirumani village, there are seven streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 601 per sq.ft, with a median value of Rs 500 per sq.ft. Thirumalai Nagar's 2024 figure is below this median.

• Sri Sai Garden: Rs 601 per sq.ft (2024)
• SathyaGiraganagar: Rs 601 per sq.ft (2024)
• PTN EnClave: Rs 500 per sq.ft (2024)
• Malar Avenue: Rs 400 per sq.ft (2024)
• Krishnamurthi Nagar: Rs 601 per sq.ft (2024)
• Annai Sathya Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty, charged at 7%, amounts to Rs 28,000, while the registration fee at 2% is Rs 8,000. Together, the total cost for these fees would be Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar?

The Chengleput Joint I Sub Registrar Office covers Thirumalai Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirumani. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. This ensures that all parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a notable decrease to Rs 268 per sq.ft in 2017 before returning to Rs 400 per sq.ft in 2023 and 2024. There are no figures for the years 2002, 2003, and 2007 for this street.

What are the guideline values of other streets in Thirumani?

Other streets in Thirumani have varying guideline values, with rates ranging from Rs 400 to Rs 601 per sq.ft. Thirumalai Nagar's value is below the median of Rs 500 per sq.ft.

What fees are associated with property transactions in Thirumalai Nagar?

When registering a property in Thirumalai Nagar, buyers must pay stamp duty, which is 7% of the guideline value, and a registration fee of 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Thirumalai Nagar located?

The Chengleput Joint I Sub Registrar Office, which covers Thirumalai Nagar, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles all registration processes for properties in the area.