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 Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this locality is 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 earliest recorded figure is from 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. In 2023, the value increased to Rs 600 per sq.ft, and the most recent revision in 2024 saw it rise to Rs 660 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of 2024. The median guideline value in this area is Rs 1,100 per sq.ft, placing Thirumurugan Nagar (Per) 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 would be 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 cost for these fees to Rs 59,400. It is important to note that 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 details.

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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately according to the prevailing rates.

When a property is sold, the guideline value helps in assessing the fair value for taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration and to ensure compliance with local regulations.

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 back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

The land classification for Thirumurugan Nagar (Per) is Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 59,400.

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

The Chengleput Joint II Sub Registrar Office covers Thirumurugan Nagar (Per) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.