Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Thiruvancheri village under the Pallavaram SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and most recently, it has risen to Rs 1,980 per sq.ft in 2024, reflecting a 32% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 24%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is the same as the guideline value for Thirumalai Nagar.

• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• S.V.Farms Paruthi Main Road I: Rs 2,530 per sq.ft (2024)
• S.V.Farms Cross Streets-II: Rs 2,530 per sq.ft (2024)
• Suppan Street: Rs 1,980 per sq.ft (2024)
• Vaijayanthi Mala Bali Street: Rs 1,980 per sq.ft (2024)
• Veerama Munivar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar?

The Thirumalai Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Thiruvancheri, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Accurate knowledge of these values can help 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 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and an increase in 2023.

What is the registration office for Thirumalai Nagar?

The registration office for Thirumalai Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

What is the land classification for Thirumalai Nagar?

Thirumalai Nagar is classified as Residential Class I Type - I, which is relevant for determining the guideline value and other regulatory aspects.