Guideline Value for THIRUMURUGAN NAGAR PHASE I

Thirumurugan Nagar Phase I guideline value

The current guideline value for Thirumurugan Nagar Phase I, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Thirumurugan Nagar Phase I has changed

The guideline value for Thirumurugan Nagar Phase I has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a guideline value of Rs 1,000 per sq.ft, indicating a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. As such, the changes in guideline value are only reflected from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median value being Rs 1,100 per sq.ft. Thirumurugan Nagar Phase I's 2024 guideline value aligns with this median.

• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thiru.VI.Ka Nagar: Rs 1,100 per sq.ft (2024)
• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)
• Telecom Nagar: Rs 1,100 per sq.ft (2024)
• T N H B Commercial Plots: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumurugan Nagar Phase I?

The Thirumurugan Nagar Phase I falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is bought or sold, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the costs involved in the transaction. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Thirumurugan Nagar Phase I?

The current guideline value for Thirumurugan Nagar Phase I is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, with various revisions in between, including Rs 1,000 per sq.ft in 2023 and 2012.

What are the other streets in Matthur with the same guideline value?

Other streets in Matthur with the same guideline value of Rs 1,100 per sq.ft include Thiru.VI.Ka Nagar, Thangavelu Mudaliyar Street, Telecom Nagar, and Srinivasa Nagar.

How is stamp duty calculated in Thirumurugan Nagar Phase I?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000.

Where can I find the Sub Registrar Office for Thirumurugan Nagar Phase I?

The Sub Registrar Office covering Thirumurugan Nagar Phase I is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.