Guideline Value for Thidir Nagar Main Road

Thidir Nagar Main Road guideline value

The current guideline value of Thidir Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Thidir Nagar Main Road has changed

The guideline value for Thidir Nagar Main Road has seen significant changes over the years. In 2002, the value was Rs 120 per sq.ft, which increased to Rs 132 per sq.ft in 2003, marking a 10% rise. The value then surged dramatically to Rs 300 per sq.ft in 2007, reflecting a 127% increase. Following this, the value reached Rs 2,000 per sq.ft in 2012, a notable increase of 567% from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33% from 2012.

From 2017, the guideline value rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing the guideline value of Thidir Nagar Main Road below this median.

• Thidir Nagar Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Thidir Nagar: Rs 2,200 per sq.ft (2024)
• Thiru Kumaran Nagar: Rs 2,750 per sq.ft (2024)
• Thasari Pathma Nagar: Rs 2,750 per sq.ft (2024)
• Thiru Murugan Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Thiru Murugan Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thidir Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is 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 Thidir Nagar Main Road?

The Sub Registrar Office that covers Thidir Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thidir Nagar Main Road?

The current guideline value of Thidir Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1733% over the years.

What are the stamp duty and registration fees for properties in Thidir Nagar Main Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Thidir Nagar Main Road?

The Virugambakkam Sub Registrar Office covers Thidir Nagar Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Thidir Nagar Main Road?

Thidir Nagar Main Road is classified as Residential Class V Type - I according to the guideline value register.