Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. The earliest recorded revision is from 2017, with a guideline value of Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 sets the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, placing Thirumalai Nagar's 2024 figure above that median.

• Thiru K.R. Nagar: Rs 440 per sq.ft (2024)
• Theradi Street: Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 880 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,320 per sq.ft (2024)
• Thiruvudaiyamman Nagar: Rs 550 per sq.ft (2024)
• T.K.R. Road: Rs 1,320 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Minjur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is utilized to determine the minimum value on which the stamp duty is calculated. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which may affect the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Thirumalai Nagar?

The registration office for Thirumalai Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Thirumalai Nagar?

Stamp duty for properties in Thirumalai Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.

What are the guideline values of other streets in Minjur?

Other streets in Minjur have varying guideline values, with rates ranging from Rs 440 to Rs 1,320 per sq.ft. For instance, Thiru K.R. Nagar has a guideline value of Rs 440 per sq.ft, while Theradi Street has a value of Rs 1,320 per sq.ft.