Guideline Value for Thamarai Nagar Extension

Thamarai Nagar Extension guideline value

The current guideline value of Thamarai Nagar Extension is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thamarai Nagar Extension has changed

The guideline value for Thamarai Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 88 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a 25% rise. The next significant jump occurred in 2007, where the value surged to Rs 200 per sq.ft, reflecting an 82% increase. By 2012, the value reached Rs 2,200 per sq.ft, a substantial increase of 1,000% from the previous revision.

In 2017, the guideline value was adjusted to Rs 1,474 per sq.ft, which was a decrease of 33%. The 2023 revision saw it rise to Rs 2,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,400 per sq.ft, indicating a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 2,627%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the current value for Thamarai Nagar Extension.

• Thamarai Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Thamarai Nagar: Rs 2,400 per sq.ft (2024)
• Thanthai Periyar Nagar (Venkatesan Street): Rs 1,500 per sq.ft (2024)
• Tank Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Together, the total charges would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thamarai Nagar Extension?

The Sub Registrar Office that covers Thamarai Nagar Extension is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Thirumullaivoyal. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is charged on the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thamarai Nagar Extension?

The current guideline value of Thamarai Nagar Extension is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 88 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 2,627% over this period.

What are the other streets in Thirumullaivoyal with the same guideline value?

Other streets in Thirumullaivoyal with the same guideline value of Rs 2,400 per sq.ft include Thamarai Nagar 1st Street, Thamarai Nagar 2nd Street, Thamarai Nagar 3rd Street, and Tank Street.

What is the stamp duty rate for properties in Thamarai Nagar Extension?

The stamp duty rate for properties in Thamarai Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thamarai Nagar Extension?

The Sub Registrar Office for Thamarai Nagar Extension is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.