Guideline Value for THIRUPATHI NAGAR

Thirupathi Nagar guideline value

The current guideline value of Thirupathi Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Thirupathi Nagar has changed

Over the years, the guideline value for Thirupathi Nagar has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are several years where the register has no figure for this street, specifically for the revisions in 2002, 2003, 2007, and 2017. Therefore, the only available figures are from 2012, 2023, and 2024.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Thirupathi Nagar.

• Thiruneermalai Road: Rs 3,850 per sq.ft (2024)
• Thiruppur Kumaran Street (Near Somasundaram Street): Rs 2,750 per sq.ft (2024)
• Thiruppur Kumaran Street (Radha Nagar Main Road Southside): Rs 2,750 per sq.ft (2024)
• Thirutani Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Kauvery Street: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Vaigai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total payable amount to Rs 2,97,000. 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 Thirupathi Nagar?

The Sub Registrar Office that covers Thirupathi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The guideline value serves as a reference point for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar?

The current guideline value of Thirupathi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,000 per sq.ft from 2012 to 2023 and increased to Rs 3,300 per sq.ft in 2024. This marks a 10% increase from the previous revision.

What is the land classification for Thirupathi Nagar?

Thirupathi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Thirupathi Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Thirupathi Nagar?

The registrations for Thirupathi Nagar are handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.