Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Phagalmedu village under the Arani_Tiruvallur SRO, classified as Residential Class III Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 167 per sq.ft. This figure increased by 50% to Rs 250 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the 2024 revision is also a 50% increase, reflecting the current guideline value.

Guideline values in Phagalmedu

In Phagalmedu, there are six streets under the Arani_Tiruvallur SRO that have a 2024 guideline value ranging from Rs 250 to Rs 300 per sq.ft. The median value for these streets is Rs 275 per sq.ft, positioning Thirumalai Nagar's 2024 figure below this median.

• Sri Venkatachalapathy Nagar: Rs 250 per sq.ft (2024)
• Sri Vari Nagar Phase-II: Rs 300 per sq.ft (2024)
• Srivari Nagar Phase-1: Rs 300 per sq.ft (2024)
• Padmavathi Nagar: Rs 250 per sq.ft (2024)
• Kavitha Nagar: Rs 300 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500. 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 detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Phagalmedu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When registering a property, the guideline value will be considered alongside the sale price to ensure that the appropriate fees are calculated based on the higher amount. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, and it remained the same in the 2024 revision. Overall, there has been a 50% increase from 2017 to 2024.

What is the land classification for Thirumalai Nagar?

Thirumalai Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 22,500.

Where is the Sub Registrar Office for Thirumalai Nagar located?

The Arani_Tiruvallur Sub Registrar Office is located at No.10, S.p Kovil Street, Arani, Ponneri(tk), Thiruvallur(dt) - 601 101. This office handles the registration of properties in Thirumalai Nagar.