Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Ninna Karai village, is Rs 1,321 per sq.ft. This value is effective from 1 July 2024 and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, and further rose to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 1,200 in 2012 to Rs 1,321 in 2024, reflecting an overall increase of 10% over this period. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Thirumalai Nagar's 2024 figure above this median.

• Thirukuralar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirukoodarasappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirukkural Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirumanagaialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Thirugnanasambanthar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thirumoolar Street (Ward -7): Rs 1,321 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 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. 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 Sub Registrar Office that covers Thirumalai Nagar is the Chengleput Joint II Sub Registrar Office, 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 Ninna Karai

The guideline value is a crucial factor during the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 in 2012 to Rs 1,321 in 2024, with various revisions occurring in between, including a decrease in 2017 and an increase in 2023.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, the total fees for a 1,000 sq.ft plot would be Rs 1,18,890.

Which office handles property registrations in Thirumalai Nagar?

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