Guideline Value for TIRUMALAI NAGAR

Tirumalai Nagar guideline value

The current guideline value of Tirumalai Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This locality is situated in Nayakkankuppam village, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of Tirumalai Nagar has changed

Over the years, the guideline value of Tirumalai Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision recorded a lower value of Rs 167 per sq.ft, marking a decrease of 33% from the previous figure. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 50%, returning to Rs 250 per sq.ft. The current value of Rs 250 per sq.ft, effective from 1 July 2024, shows no change from the previous year, maintaining the same rate as in 2023. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 250 per sq.ft.

Guideline values in Nayakkankuppam

Nayakkankuppam village has 23 streets under the Walajabad SRO, with guideline values ranging from Rs 150 to Rs 403 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Tirumalai Nagar's 2024 figure above this median.

• Thiru Sai Garden: Rs 250 per sq.ft (2024)
• Sri Vetrivel Nagar: Rs 200 per sq.ft (2024)
• Vishwapriya Nagar: Rs 150 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Township: Rs 150 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Tirumalai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500. 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 Tirumalai Nagar?

The Sub Registrar Office that covers Tirumalai Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Nayakkankuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tirumalai Nagar?

The current guideline value of Tirumalai Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023.

What is the land classification of Tirumalai Nagar?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 2,50,000, the total fees would amount to Rs 22,500.

Where is the Sub Registrar Office for Tirumalai Nagar located?

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