Guideline Value for THIRUMURUGAN NAGAR

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Matthur village, under the jurisdiction of the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Thirumurugan Nagar has changed

Looking back at the revisions, the guideline value for Thirumurugan Nagar has seen several changes over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. This was a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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's 2024 figure aligns with this median.

• Thirumurugan Nagar Phase I: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost together Rs 99,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Sub Registrar Office that covers Thirumurugan Nagar is 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 in the registration process for property transactions in Matthur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable, which are calculated based on this value. This ensures transparency in property transactions and helps in maintaining a standard for property valuations in the area.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

The current guideline value of Thirumurugan Nagar 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Thirumurugan Nagar?

Thirumurugan Nagar is classified as Residential Special Type - III.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Thirumurugan Nagar?

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