Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar has changed

Over the years, the guideline value of Thirumalai Nagar has seen several revisions. The figures are as follows: in 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Thirumalai Nagar's 2024 figure below this median.

• Thirukkural Street: Rs 1,950 per sq.ft (2024)
• Thirumurugan Nagar: Rs 2,700 per sq.ft (2024)
• Thendral Nagar: Rs 2,100 per sq.ft (2024)
• The Breeze By Jones: Rs 3,350 per sq.ft (2024)
• Thaumanavar Street: Rs 2,700 per sq.ft (2024)
• Tamilselvi Nagar: Rs 2,900 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is charged at 7%, amounting to Rs 1,89,000, while the registration fee is 2%, totaling Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value is crucial during the registration process of property transactions in Chitthalapakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When buying or selling a property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. The higher of the guideline value or the sale price will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Thirumalai Nagar?

The Selaiyur Sub Registrar Office handles registrations for Thirumalai Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value and the calculation of stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value to understand their financial obligations during the registration process.