Guideline Value for THIRUMURUGAN NAGAR/ AVENUE

Thirumurugan Nagar/ Avenue guideline value

The current guideline value of Thirumurugan Nagar/ Avenue is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Venmanamputhur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Thirumurugan Nagar/ Avenue has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision also maintains this value at Rs 200 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, indicating stability in this period.

Guideline values in Venmanamputhur

Venmanamputhur village has 54 streets under the Tiruvallur Joint 1 SRO, with guideline values for 2024 ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Thirumurugan Nagar/ Avenue. Below are other streets in Venmanamputhur:

• Thirumalai Nagar(S.No389/1b3): Rs 250 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 200 per sq.ft (2024)
• T.N.E.B. Nagar: Rs 250 per sq.ft (2024)
• Suriya Nagar: Rs 250 per sq.ft (2024)
• Udaya Deepam Nagar: Rs 200 per sq.ft (2024)
• Udayam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar/ Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty, calculated at 7%, would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumurugan Nagar/ Avenue?

The Sub Registrar Office that covers Thirumurugan Nagar/ Avenue is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Venmanamputhur. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is properly recorded and taxed according to the established rates.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar/ Avenue?

The current guideline value of Thirumurugan Nagar/ Avenue is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase back to Rs 200 per sq.ft in 2023.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office registers properties in Thirumurugan Nagar/ Avenue?

The Tiruvallur Joint 1 Sub Registrar Office is responsible for registering properties in Thirumurugan Nagar/ Avenue, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It serves as a standard for calculating stamp duty and registration fees during property transactions.