Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Mamandoor village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thirumalai Nagar has changed

Looking at the revisions, the 2012 revision set the guideline value at Rs 500 per sq.ft. This figure remained unchanged in the 2017 revision, which also recorded a value of Rs 500 per sq.ft. However, in the 2017 revision, there was a significant increase from the 2012 revision, which had a value of Rs 335 per sq.ft. The 2023 revision also maintained the guideline value at Rs 500 per sq.ft, and there was no change from 2023 to 2024.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 500 per sq.ft, indicating a 0% change during this period. It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamandoor

In Mamandoor village, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft, with the median being Rs 500 per sq.ft. The guideline value for Thirumalai Nagar aligns with this median.

• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Varun Plats: Rs 400 per sq.ft (2024)
• Vedha Garden: Rs 500 per sq.ft (2024)
• Sri Sai Sreevari Nagar: Rs 500 per sq.ft (2024)
• Sri Padmaladha Avenue: Rs 650 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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.

Which Sub Registrar Office covers Thirumalai Nagar?

The Chengleput Joint II 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 Mamandoor

The guideline value plays a crucial role during the registration process when buying or selling property in Mamandoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft, which is the same as the 2023 revision. The value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Thirumalai Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Thirumalai Nagar?

The Chengleput Joint II Sub Registrar Office is responsible for property registrations in Thirumalai Nagar. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Special Type - II, indicating its designated use within the local planning framework.