Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar in Kakkalur village, under the Tiruvallur Joint 1 SRO, is Rs 626 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 626 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In the 2023 revision, the guideline value remained at Rs 626 per sq.ft, and this value has been retained in the 2024 revision, indicating no change of 0%. Overall, from 2012 to 2024, the guideline value has seen no net change, remaining at Rs 626 per sq.ft.

Guideline values in Kakkalur

In Kakkalur, there are 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is equal to the current guideline value of Thirumalai Nagar.

• Thendral Street: Rs 626 per sq.ft (2024)
• Thalam Poo Stree: Rs 626 per sq.ft (2024)
• Teachers Colony: Rs 626 per sq.ft (2024)
• Tamizharasi Avenue: Rs 626 per sq.ft (2024)
• Tamarai Street: Rs 626 per sq.ft (2024)
• Thulasi Street: Rs 626 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 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, and the registration fee at 2% would be Rs 12,520, leading to a total of Rs 56,340. It is important to note that the 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 more details.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office covering Thirumalai Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kakkalur. It determines the minimum value at which properties can be registered, ensuring that the government receives the correct stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty on the higher of the guideline value or the sale price. This ensures that the transaction is documented accurately and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then back to Rs 626 per sq.ft in 2023 and 2024. The register has no figures for the years 2002, 2003, and 2007.

What is the median guideline value in Kakkalur?

The median guideline value in Kakkalur is Rs 626 per sq.ft, which is the same as the guideline value for Thirumalai Nagar.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Thirumalai Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumalai Nagar?

The Sub Registrar Office for Thirumalai Nagar is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find more details by visiting the relevant website.