Guideline Value for THIRUMURUGAN NAGAR (PER)

Thirumurugan Nagar (Per) guideline value

The current guideline value of Thirumurugan Nagar (Per) in Panangottur village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is 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 undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase from Rs 600 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 402 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, there has been a net increase of +10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The absence of data from these years does not affect the current guideline value but highlights the changes that have occurred in the more recent revisions.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value for Thirumurugan Nagar (Per) is below this median.

• Thirumoolar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Thirunavukarasar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Thirumanagaialwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Thirupanalwar Street (Ward -18): Rs 1,320 per sq.ft (2024)
• Thirupavai Street (N): Rs 1,320 per sq.ft (2024)
• Thirupozai Street: Rs 1,320 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 guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. 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 (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. For further details, you can find your SRO.

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

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

When a property is registered, the guideline value is assessed to ensure that the correct fees are applied. This ensures transparency and compliance with the regulations set forth by the local authorities.

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 2023 to Rs 660 per sq.ft in 2024, a +10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing significant fluctuations over the years.

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

The land in Thirumurugan Nagar (Per) is classified as Residential Class I Type - III, indicating its intended use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Thirumurugan Nagar (Per)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.