Guideline Value for THIRUMALAI NAGAR

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class II Type - III.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. Starting from Rs 160 per sq.ft in 2002, it increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 275%. The value then surged to Rs 2,300 per sq.ft in 2012, reflecting an increase of 283%. However, it saw a decrease to Rs 1,541 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, which is an increase of 62% from the 2017 figure.

It is important to note that there are no figures available for the years 2023 and 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1463%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with the median being Rs 2,500 per sq.ft. Thirumalai Nagar's 2024 figure is equal to this median.

• Thirumalai Annex: Rs 2,500 per sq.ft (2024)
• Thirumalai Square (Balaji Nagar): Rs 2,100 per sq.ft (2024)
• Thirumalai Square (Rajiv Nagar Korattur): Rs 2,100 per sq.ft (2024)
• Thirumal Nagar: Rs 1,600 per sq.ft (2024)
• Thillai Nagar Extension: Rs 2,500 per sq.ft (2024)
• Thillai Nagar 4th & 5th Street: Rs 3,300 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office covering Thirumalai Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Korattur. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency in property transactions and protects the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 160 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 1463% over the years.

What are the stamp duty rates for properties in Thirumalai Nagar?

The stamp duty rate for properties in Thirumalai Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thirumalai Nagar located?

The Sub Registrar Office for Thirumalai Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

Are there any revisions without figures for Thirumalai Nagar?

Yes, there are no figures available for the years 2023 and 2003 for Thirumalai Nagar in the guideline value register.