Guideline Value for Thiropathi Nagar

Thiropathi Nagar guideline value

The current guideline value of Thiropathi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Thiropathi Nagar has changed

The guideline value for Thiropathi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a notable increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Thiropathi Nagar's 2024 figure below this median. Here are some other streets in Hastinapuram:

• Thirukural Street: Rs 1,650 per sq.ft (2024)
• Thirumalai Kundru Street: Rs 2,380 per sq.ft (2024)
• Thirumalai Nagar Extn.: Rs 2,970 per sq.ft (2024)
• Thiruporur Road: Rs 2,970 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thiropathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that 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 Thiropathi Nagar?

The Sub Registrar Office that covers Thiropathi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is compliant with local regulations and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thiropathi Nagar?

The current guideline value of Thiropathi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking a total increase of 313% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram for 2024 is Rs 2,970 per sq.ft, with Thiropathi Nagar's value being below this median.

What are the stamp duty and registration fees for a property in Thiropathi Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Thiropathi Nagar located?

The Sub Registrar Office for Thiropathi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.