Guideline Value for TIRUMALAI NAGAR

Tirumalai Nagar guideline value

The current guideline value of Tirumalai Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Tirumalai Nagar has changed

The guideline value for Tirumalai Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median value for these streets is Rs 220 per sq.ft, which is equal to the current guideline value of Tirumalai Nagar.

• Tirupathi Venkatesa Perumal Nagar: Rs 330 per sq.ft (2024)
• Thiruvudaiyamman Nagar: Rs 220 per sq.ft (2024)
• Vadivudaiyamman Nagar: Rs 220 per sq.ft (2024)
• Valaja Nagar: Rs 330 per sq.ft (2024)
• Velankanni Nagar: Rs 220 per sq.ft (2024)
• Sujitha Avenue: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Tirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty is charged at 7%, which totals Rs 15,400, and the registration fee is charged at 2%, amounting to Rs 4,400. Together, these fees total Rs 19,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Tirumalai Nagar?

The Sub Registrar Office that covers Tirumalai Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is an essential factor in the property registration process in Vallur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value set by the authorities.

This value helps maintain transparency in property transactions and ensures that both buyers and sellers are aware of the costs involved in the registration process. It is crucial for anyone looking to buy or sell property in Vallur to understand how the guideline value affects their transaction.

Frequently asked questions

What is the current guideline value of Tirumalai Nagar?

The current guideline value of Tirumalai Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 134 per sq.ft to Rs 220 per sq.ft in 2024, which is an overall increase of 64%.

What are the registration fees for property in Tirumalai Nagar?

The registration fees for property in Tirumalai Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Tirumalai Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Tirumalai Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Vallur?

The median guideline value for streets in Vallur is Rs 220 per sq.ft, which is the same as the current guideline value for Tirumalai Nagar.