Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This locality is situated in Nelli village under the Salavakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 67 per sq.ft. Following this, the guideline value increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a 49% rise from 2017. The latest revision in 2024 has further increased the guideline value to Rs 103 per sq.ft, reflecting a 3% increase from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that have a guideline value for 2024, ranging from Rs 101 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, placing Thirumalai Nagar's 2024 figure at the same median level.

• Sri Sai Baba Nagar: Rs 103 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 103 per sq.ft (2024)
• Sri Bhuvaneshwari Amman Nagar: Rs 103 per sq.ft (2024)
• Yume Garden Phase-1: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-7: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-6: Rs 103 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, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total fees to Rs 9,270. It is important to note that 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 Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nelli. It is used to determine the stamp duty and registration fees, which are mandatory for any property sale or purchase.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard value set by the authorities. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 100 per sq.ft in 2012, decreased to Rs 67 per sq.ft in 2017, increased to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the median guideline value in Nelli village?

The median guideline value in Nelli village for 2024 is Rs 103 per sq.ft, which is the same as the guideline value for Thirumalai Nagar.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated in Thirumalai Nagar?

Stamp duty in Thirumalai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additional registration fees are charged at 2% of the guideline value.