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 Vallancheri 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 was then reduced to Rs 469 per sq.ft in 2017. This was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it up to Rs 700 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 770 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Vallancheri

In Vallancheri, there are 134 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 825 per sq.ft. The guideline value of Thirumurugan Nagar Main Road (Ward -1) is below this median.

• 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 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 Vallancheri

The guideline value plays a crucial role in property transactions in Vallancheri. It is used as a benchmark for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately estimate the costs involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

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 back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024. This reflects various increases and decreases over the years.

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. This classification indicates the type of development that is permitted in the area.

What are the registration fees for properties in this area?

For a property valued at the current guideline value of 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office services Thirumurugan Nagar Main Road?

The Chengleput Joint II Sub Registrar Office services Thirumurugan Nagar Main Road (Ward -1). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.