Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Pakkam village under the Ponneri SRO, is Rs 100 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 II 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 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. In the subsequent 2023 revision, the value returned to Rs 100 per sq.ft, and it has remained the same for the 2024 revision, resulting in an overall change of +0% from 2012 to 2024.

From 2017 to 2023, the guideline value increased by 49%. The 2024 revision shows no change from the 2023 figure, maintaining the value at Rs 100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Pakkam

In Pakkam village, there are six streets under the Ponneri SRO that carry a guideline value of Rs 100 per sq.ft for the year 2024. The median value for these streets is also Rs 100 per sq.ft, placing Thirumalai Nagar at the same level as the median. The other streets in Pakkam with their respective guideline values are:

• Sri Parvathy Amman Nagar: Rs 100 per sq.ft (2024)
• New Sun City: Rs 100 per sq.ft (2024)
• Moon City Annex: Rs 100 per sq.ft (2024)
• Dreem City: Rs 100 per sq.ft (2024)
• A.T.M. Nagar: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the taxes are calculated based on a fair assessment of the property's value. This helps maintain transparency in real estate transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value of Thirumalai Nagar changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 100 per sq.ft in 2024, which is the same as the 2023 figure. The value was Rs 67 per sq.ft in 2017 and Rs 100 per sq.ft in 2012.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value.

Which office handles the registration of properties in Thirumalai Nagar?

The Ponneri Sub Registrar Office handles the registration of properties in Thirumalai Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.