Guideline Value for THIRUMALAINAGAR EXTN

Thirumalainagar Extn guideline value

The current guideline value for Thirumalainagar Extn, located in Ramapuram village under the Chennai South Joint II SRO, is Rs 3,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Thirumalainagar Extn has changed

The guideline value for Thirumalainagar Extn has experienced several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 252 per sq.ft. This increased to Rs 313 per sq.ft in 2003, marking a 24% rise. Following this, the value surged significantly to Rs 900 per sq.ft in 2007, reflecting an increase of 188%. The guideline value then saw a substantial jump to Rs 3,200 per sq.ft in 2012, which was a 256% increase. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,550 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,309%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, positioning Thirumalainagar Extn above this median.

• Thirumalai Nagar Main Road: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar 1 to 6 Street: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar: Rs 3,550 per sq.ft (2024)
• Thirupathi Nagar Road: Rs 3,550 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 5,500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalainagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value amounts to Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total to Rs 3,19,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumalainagar Extn?

The Sub Registrar Office that covers Thirumalainagar Extn is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Thirumalainagar Extn?

The current guideline value of Thirumalainagar Extn is Rs 3,550 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 252 per sq.ft in 2002 to Rs 3,550 per sq.ft in 2024, reflecting an overall increase of 1,309% over the years.

What is the stamp duty rate for property in Thirumalainagar Extn?

The stamp duty rate for property transactions in Thirumalainagar Extn is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumalainagar Extn?

The Sub Registrar Office for Thirumalainagar Extn is located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How do I calculate the registration fees for property in Thirumalainagar Extn?

The registration fee is calculated at 2% of the guideline value. You can also use the stamp duty and registration fee calculator for precise calculations based on your property size and value.