Guideline Value for THIURMAL NAGAR

Thiurmal Nagar guideline value

The current guideline value of Thiurmal Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Thiurmal Nagar has changed

The guideline value for Thiurmal Nagar has seen several revisions over the years. In 2012, the value was Rs 500 per sq.ft. This figure decreased to Rs 335 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded significantly to Rs 500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 sets the guideline value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pammathukulam

Pammathukulam village has 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, and Thiurmal Nagar's 2024 guideline value aligns with this median.

• Tippu Sulthan Nagar: Rs 550 per sq.ft (2024)
• Vadivudaiamman Nagar: Rs 660 per sq.ft (2024)
• Valli Nagar Annex: Rs 550 per sq.ft (2024)
• Varadhammal Nagar - II: Rs 660 per sq.ft (2024)
• Varathammal Nagar: Rs 440 per sq.ft (2024)
• Vasanth Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Thiurmal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiurmal Nagar?

The Sub Registrar Office covering Thiurmal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, both parties must consider the guideline value as it influences the overall transaction costs. This value is essential for compliance with local regulations and for the accurate assessment of property taxes.

Frequently asked questions

What is the current guideline value of Thiurmal Nagar?

The current guideline value of Thiurmal Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value in Pammathukulam?

The median guideline value for streets in Pammathukulam is Rs 550 per sq.ft, which is also the current value for Thiurmal Nagar.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which office handles property registrations for Thiurmal Nagar?

The Redhills Sub Registrar Office handles property registrations for Thiurmal Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.