Guideline Value for THIRUMURUGAN NAGAR MAIN ROAD (WARD -1)

Thirumurugan Nagar Main Road (Ward -1) guideline value

The current guideline value of Thirumurugan Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This road is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Thirumurugan Nagar Main Road (Ward -1) has changed

The guideline value for Thirumurugan Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was followed by a decrease to Rs 469 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 700 per sq.ft in 2023, and further rose to Rs 770 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current value for Thirumurugan Nagar Main Road.

• Thiruvalluvar Street (Ward-20): Rs 880 per sq.ft (2024)
• Thiruvalluvar Street (Ward-21): Rs 660 per sq.ft (2024)
• Thiruveeka Street (Ward-21): Rs 660 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Thailavaram Yerikkarai Thideer (Ward-21): Rs 660 per sq.ft (2024)
• Thailavaram 2nd & 3rd Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar Main Road (Ward -1)

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 Main Road (Ward -1)?

The Sub Registrar Office that covers Thirumurugan Nagar Main Road (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, 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 from property transactions.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar Main Road (Ward -1)?

The current guideline value of Thirumurugan Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Thirumurugan Nagar Main Road?

Thirumurugan Nagar Main Road is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Thirumurugan Nagar Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 7,70,000 would incur a stamp duty of Rs 53,900 at 7%.