Guideline Value for Therkku Thirumalai Nagar

Therkku Thirumalai Nagar guideline value

The current guideline value of Therkku Thirumalai Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Malligaicherry village under the Konnur SRO and is classified as Residential Special Type - I.

How the guideline value of Therkku Thirumalai Nagar has changed

The guideline value for Therkku Thirumalai Nagar has seen significant changes over the years. In 2002, the value was Rs 277 per sq.ft, which increased to Rs 470 per sq.ft in 2003, marking a 70% rise. The value continued to rise to Rs 1,500 per sq.ft in 2007, a substantial increase of 219%. Following this, the value saw a major jump to Rs 3,500 per sq.ft in 2012, reflecting a 133% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,272%. The register has no figures for the years between 2017 and 2023, 2012 and 2017, and 2007 and 2012 for this street.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making Therkku Thirumalai Nagar's 2024 figure of Rs 3,800 per sq.ft above the median.

• Therkku Thirumalai Nagar First Lane: Rs 3,800 per sq.ft (2024)
• Therkku Thirumalai Nagar Second Lane: Rs 3,800 per sq.ft (2024)
• Therkku Thirumalai Nagar Third Lane @: Rs 3,800 per sq.ft (2024)
• Thirumalai Complex (Flats): Rs 3,800 per sq.ft (2024)
• Thirumalai Nagar: Rs 3,800 per sq.ft (2024)
• Thiruveethiamman Koil First Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Therkku Thirumalai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Please note that 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 Therkku Thirumalai Nagar?

The Sub Registrar Office that covers Therkku Thirumalai Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malligaicherry. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. The amount of duty is determined based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value serves as a benchmark for assessing the value of the property. This helps in maintaining transparency in property transactions and ensures that buyers and sellers are aware of the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Therkku Thirumalai Nagar?

The current guideline value of Therkku Thirumalai Nagar is Rs 3,800 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 277 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 1,272% over the years.

What are the stamp duty and registration fees for property in Therkku Thirumalai 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 3,42,000.

Which Sub Registrar Office covers Therkku Thirumalai Nagar?

The Konnur Sub Registrar Office covers Therkku Thirumalai Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing property value and ensures transparency in the registration process.