Guideline Value for THIRUNAGAR

Thirunagar guideline value

The current guideline value of Thirunagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 3,700 per sq.ft, effective from the 2024 revision which starts on 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Thirunagar has changed

The guideline value of Thirunagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,400 per sq.ft in 2012, marking a rise of 467%. However, this value decreased to Rs 2,278 per sq.ft in 2017, reflecting a drop of 33%. The value then increased sharply to Rs 3,400 per sq.ft in 2023, representing a 49% increase from the previous revision.

As of 2024, the guideline value has further risen to Rs 3,700 per sq.ft, which is a 9% increase from the 2023 figure. Overall, from 2007 to 2024, there has been a substantial increase of 517% in the guideline value for Thirunagar. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thirunagar's current value above this median.

• Thirunagar Extn: Rs 3,700 per sq.ft (2024)
• Thiruvallur Street: Rs 5,500 per sq.ft (2024)
• Thirumalai Avenue: Rs 3,700 per sq.ft (2024)
• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)
• Thilagar Nagar: Rs 1,900 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirunagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total fees together to Rs 3,33,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thirunagar?

The Sub Registrar Office that covers Thirunagar 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 Thiruvottiyur

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, making it essential for both buyers and sellers to be aware of the current guideline values in their respective areas.

Frequently asked questions

What is the current guideline value of Thirunagar?

The current guideline value of Thirunagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,700 per sq.ft in 2024, marking an overall increase of 517% over the years.

What is the land classification of Thirunagar?

The land classification for Thirunagar is Mixed Special Type - II, indicating the type of development permitted in the area.

Where can I find the Sub Registrar Office for Thirunagar?

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

How is stamp duty calculated in Thirunagar?

Stamp duty in Thirunagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.