Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Vallapakkam village and falls under the Walajabad SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thirumalai Nagar has changed

According to the guideline value register, there are no recorded figures for Thirumalai Nagar in the revisions from 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 400 per sq.ft for both 2023 and 2024, indicating no change between these years, with a percentage change of +0%.

The 2024 revision, effective from 1 July 2024, maintains the same guideline value of Rs 400 per sq.ft that was set in the previous year, 2023. This consistency reflects stability in the valuation for this street.

Guideline values in Vallapakkam

In Vallapakkam, there are 7 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Thirumalai Nagar's value above this median.

• Sss Nagar: Rs 300 per sq.ft (2024)
• Sri Abirami Nagar: Rs 300 per sq.ft (2024)
• Shree Vari Nagar: Rs 300 per sq.ft (2024)
• M.G Nagar: Rs 400 per sq.ft (2024)
• King Makers: Rs 300 per sq.ft (2024)
• Golden Nagar: Rs 400 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vallapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction reflects a fair valuation according to government standards. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thirumalai Nagar has remained steady at Rs 400 per sq.ft from 2023 to 2024, with no recorded figures in revisions from 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Vallapakkam and their guideline values?

Other streets in Vallapakkam include Sss Nagar, Sri Abirami Nagar, Shree Vari Nagar, M.G Nagar, King Makers, and Golden Nagar, with values ranging from Rs 300 to Rs 400 per sq.ft.

What fees are associated with property transactions in Thirumalai Nagar?

When purchasing property in Thirumalai Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thirumalai Nagar located?

The Walajabad Sub Registrar Office covers Thirumalai Nagar and is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.