Guideline Value for Thidir Nagar

Thidir Nagar guideline value

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

How the guideline value of Thidir Nagar has changed

The guideline value for Thidir Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 120 per sq.ft. It increased to Rs 132 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The 2012 revision saw the value drop to Rs 2,000 per sq.ft, but it rebounded to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, and a further increase to Rs 2,200 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +10%. The value surged by +127% from 2003 to 2007, followed by a remarkable +567% from 2007 to 2012. However, from 2012 to 2017, there was a decline of -33%. The value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1733%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Thidir Nagar is below this median.

• Thidir Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Thidir Nagar Perumal Koil Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thidir Nagar?

The Sub Registrar Office that covers Thidir Nagar 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 when it comes to property registration in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thidir Nagar?

The current guideline value of Thidir Nagar 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 significantly over the years, starting from Rs 120 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1733%.

What is the land classification of Thidir Nagar?

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

What are the stamp duty and registration fees in Thidir Nagar?

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 office handles property registrations in Thidir Nagar?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, handles property registrations in Thidir Nagar.