Guideline Value for THIRUPATHY NAGAR EXTENSION

Thirupathy Nagar Extension guideline value

The current guideline value of Thirupathy Nagar Extension is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Marutham village and falls under the Walajabad SRO, classified as Residential Special Type - III.

How the guideline value of Thirupathy Nagar Extension has changed

Over the years, the guideline value for Thirupathy Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. However, the subsequent revisions in 2023 and 2024 both maintained the value at Rs 300 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been no change, as the value returned to Rs 300 per sq.ft.

Guideline values in Marutham

In Marutham, there are eight streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. The median value among these streets is Rs 150 per sq.ft, placing Thirupathy Nagar Extension above this median.

• Thirupathy Nagar: Rs 100 per sq.ft (2024)
• Unnamed Layout: Rs 300 per sq.ft (2024)
• Uvs Real Estates Private Limited: Rs 150 per sq.ft (2024)
• Sumathi Ammal Nagar: Rs 300 per sq.ft (2024)
• Sri Madhu Nagar Phase -I: Rs 150 per sq.ft (2024)
• Sharon Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathy Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirupathy Nagar Extension?

The Thirupathy Nagar Extension is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Marutham. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is registered at a value recognized by the government. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Thirupathy Nagar Extension?

The current guideline value for Thirupathy Nagar Extension is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then returning to Rs 300 per sq.ft in 2023 and 2024. Overall, there has been no change from 2012 to 2024.

What is the land classification for Thirupathy Nagar Extension?

Thirupathy Nagar Extension is classified as Residential Special Type - III. This classification indicates the type of development allowed in the area.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirupathy Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be 7% of this amount.