Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Goodaloor village under the Chengleput Joint II SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the current 2024 revision has further raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Goodaloor

Within Goodaloor, there are 53 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,510 per sq.ft. The median value is Rs 660 per sq.ft, which is the same as the guideline value for Thirumalai Nagar.

• Thirukural Nagar (Kod): Rs 660 per sq.ft (2024)
• Thirumalai Premimum County (Ward -9): Rs 1,100 per sq.ft (2024)
• Tank Street (Ward -9): Rs 550 per sq.ft (2024)
• T.N.H.B.Coodalur Village (Ward -9): Rs 825 per sq.ft (2024)
• Sundarapuram Kalivanthapattu (Ward -9): Rs 550 per sq.ft (2024)
• Vanchinathan Nagar (Kod): Rs 660 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total charges to Rs 59,400. 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 more details on charges applicable to your property transaction.

Which Sub Registrar Office covers Thirumalai Nagar?

The Chengleput Joint II Sub Registrar Office covers Thirumalai Nagar, 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 Goodaloor

The guideline value plays a crucial role in property transactions in Goodaloor. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Thirumalai Nagar?

Thirumalai Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated in Thirumalai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.