Guideline Value for THIRUMURUGAN NAGAR (PER)

Thirumurugan Nagar (Per) guideline value

The current guideline value of Thirumurugan Nagar (Per) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

The guideline value for Thirumurugan Nagar (Per) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision further raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Thirumurugan Nagar (Per) below this median at Rs 660 per sq.ft.

• Thirumoolar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thirunavukarasar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thirumanagaialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Thirupanalwar Street (Ward -18): Rs 1,321 per sq.ft (2024)
• Thirupavai Street (N): Rs 1,321 per sq.ft (2024)
• Thirupozai Street: Rs 1,321 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for these charges would be Rs 59,400. It is essential 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 Thirumurugan Nagar (Per)?

The Sub Registrar Office that covers Thirumurugan Nagar (Per) 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Thirumurugan Nagar (Per) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

Thirumurugan Nagar (Per) is classified as Residential Class I Type - III.

What are the other streets in Ninna Karai and their guideline values?

Other streets in Ninna Karai have guideline values ranging from Rs 440 to Rs 3,500 per sq.ft, with Thirumurugan Nagar (Per) being below the median value of Rs 1,100 per sq.ft.

Where can I find the Sub Registrar Office for Thirumurugan Nagar (Per)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the provided link.