Guideline Value for THIRUMURUGAN NAGAR

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Kolatti village under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Thirumurugan Nagar has changed

The guideline value for Thirumurugan Nagar has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 35 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2012 revision, then decreased to Rs 201 per sq.ft in 2017. The 2023 revision saw a rise to Rs 300 per sq.ft, and the most recent 2024 revision set the value at Rs 330 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 843%. The register does not have figures for the years 2002 and 2007 for this street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 330 per sq.ft. Thirumurugan Nagar's current guideline value is above the median value of Rs 275 per sq.ft for the village.

• Thiru Vee Ka Nagar: Rs 220 per sq.ft (2024)
• Vallalar Nagar: Rs 330 per sq.ft (2024)
• Sri Thiruvenkadapuram Nagar: Rs 330 per sq.ft (2024)
• Sri Ragavendira Modern Town: Rs 330 per sq.ft (2024)
• Ram Tulasi Nagar: Rs 330 per sq.ft (2024)
• Puduppedu School Road: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. 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?

The Thirumurugan Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the state authorities.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

The current guideline value of Thirumurugan Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 35 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 843% over this period.

What is the registration office for Thirumurugan Nagar?

The registration office for Thirumurugan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Thirumurugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 330 per sq.ft, the stamp duty would be Rs 23,100.

What are the other streets in Kolatti with their guideline values?

Other streets in Kolatti include Thiru Vee Ka Nagar at Rs 220 per sq.ft, Vallalar Nagar at Rs 330 per sq.ft, and Sri Thiruvenkadapuram Nagar at Rs 330 per sq.ft, among others.