Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Eagattur village under the Manavalanagar SRO, is Rs 190 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thirumalai Nagar has changed

Over the years, the guideline value for Thirumalai Nagar has seen a consistent figure in recent revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 190 per sq.ft, and this value remains unchanged in the 2024 revision, reflecting a change of +0% from 2023 to 2024.

The most recent revision in 2024 maintains the guideline value at Rs 190 per sq.ft, which is consistent with the previous year's figure. This stability indicates that the value has not fluctuated in the last two revisions.

Guideline values in Eagattur

In Eagattur, there are 31 streets under the Manavalanagar SRO that carry a 2024 guideline value figure, ranging from Rs 100 to Rs 330 per sq.ft. The median guideline value for these streets is Rs 190 per sq.ft, placing Thirumalai Nagar's 2024 figure at the median value.

• Thirumalai Nagar Annex II: Rs 190 per sq.ft (2024)
• Thirumalai Nagar IV: Rs 190 per sq.ft (2024)
• Thirumalai Nagar Phase III: Rs 190 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 220 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 154 per sq.ft (2024)
• Varadaraja Nagar: Rs 154 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 190 per sq.ft, the total guideline value amounts to Rs 1,90,000. The stamp duty calculated at 7% would be Rs 13,300, while the registration fee at 2% would be Rs 3,800. Together, the total cost for stamp duty and registration fee would be Rs 17,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Manavalanagar Sub Registrar Office. The address is Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Eagattur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the stamp duty. This process helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 190 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thirumalai Nagar has remained at Rs 190 per sq.ft for the revisions in 2023 and 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,90,000 in Thirumalai Nagar, the stamp duty would be Rs 13,300, and the registration fee would be Rs 3,800, totaling Rs 17,100. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Thirumalai Nagar?

The Manavalanagar Sub Registrar Office is responsible for property registrations in Thirumalai Nagar. It is located on Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees for property transactions. It ensures that the correct taxes are levied and helps maintain a transparent process in property dealings.