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 Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 has further raised the guideline value to Rs 770 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a total increase of 10%.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the guideline value for Thirumurugan Nagar Main Road. Below are some other streets in Thailavaram:

• Thiruvalluvar Street (Ward-20): Rs 881 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, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Thailavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are mandatory costs involved in the transaction. It is essential for both parties to understand how these values are determined to facilitate a smooth registration process.

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?

The land classification for Thirumurugan Nagar Main Road (Ward -1) is Residential Class I Type - III.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office located for this area?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.