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 street is located in Potheri 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

Over the years, the guideline value for Thirumurugan Nagar Main Road has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. In 2023, the value increased to Rs 700 per sq.ft again, and as of the 2024 revision, it has risen to Rs 770 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,970 per sq.ft. The median value is Rs 770 per sq.ft, which matches the current guideline value of Thirumurugan Nagar Main Road (Ward -1).

• 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 guideline value of Rs 770 per sq.ft, the total 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, bringing the total cost for these fees to Rs 69,300. It is important 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 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property is registered, the guideline value is considered to determine the applicable duties. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions in Potheri.

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 several times, starting from Rs 700 per sq.ft in 2012, decreasing to Rs 469 per sq.ft in 2017, then increasing to Rs 700 per sq.ft in 2023, and finally reaching 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 under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property in Thirumurugan Nagar Main Road?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for Thirumurugan Nagar Main Road?

The Chengleput Joint II Sub Registrar Office handles registrations for Thirumurugan Nagar Main Road, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.