Guideline Value for THIRUMURUGAN NAGAR (CHEN)

Thirumurugan Nagar (Chen) guideline value

The current guideline value of Thirumurugan Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Thirumurugan Nagar (Chen) has changed

Looking at the revisions, the guideline value for Thirumurugan Nagar (Chen) has seen several changes over the years. In 2012, the guideline value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the guideline value of Thirumurugan Nagar (Chen).

• Thirumalai Nagar (Chen): Rs 880 per sq.ft (2024)
• Thilakar V O C Nagar (Chen): Rs 660 per sq.ft (2024)
• Thilakar Street (Chen): Rs 660 per sq.ft (2024)
• Thriukatchur Scheme (Chen): Rs 1,320 per sq.ft (2024)
• Thatchab Avenue (Chen): Rs 770 per sq.ft (2024)
• Thulir: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar (Chen)

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 fees to Rs 79,200. 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 Thirumurugan Nagar (Chen)?

The Sub Registrar Office that covers Thirumurugan Nagar (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor during the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that the transaction is recorded accurately in the official register.

When a buyer and seller agree on a sale price, the higher amount between the sale price and the guideline value is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar (Chen)?

The current guideline value of Thirumurugan Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Thirumurugan Nagar (Chen)?

Thirumurugan Nagar (Chen) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the other streets in Sengundram - 1 with their guideline values?

Other streets in Sengundram - 1 include Thirumalai Nagar (Chen) at Rs 880 per sq.ft, Thilakar V O C Nagar (Chen) and Thilakar Street (Chen) at Rs 660 per sq.ft, Thriukatchur Scheme (Chen) and Thulir at Rs 1,320 per sq.ft, and Thatchab Avenue (Chen) at Rs 770 per sq.ft.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details about this office through the provided link.