Guideline Value for Thiru Kumaran Nagar

Thiru Kumaran Nagar guideline value

The current guideline value of Thiru Kumaran Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thiru Kumaran Nagar has changed

The guideline value of Thiru Kumaran Nagar has seen significant changes over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 114 per sq.ft in 2003. Following this, the value rose substantially to Rs 400 per sq.ft in 2007, marking a 251% increase. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 525% increase from the previous revision. However, in 2017, it decreased to Rs 1,675 per sq.ft, a decline of 33% from 2012. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,544%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value 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, making the current value of Thiru Kumaran Nagar below that median.

• Thidir Nagar Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Thidir Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Thidir Nagar: Rs 2,200 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)
• Thiru Murugan Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru Kumaran Nagar?

The Sub Registrar Office that covers Thiru Kumaran 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 during the registration of property transactions in Maduravoyal. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal and financial documentation. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiru Kumaran Nagar?

The current guideline value of Thiru Kumaran Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 104 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 2,544%.

What is the registration fee for property in Thiru Kumaran Nagar?

The registration fee for property in Thiru Kumaran Nagar is calculated based on the guideline value. For example, a property valued at Rs 27,50,000 would incur a registration fee of Rs 55,000 at 2%.

Which Sub Registrar Office covers Thiru Kumaran Nagar?

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

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 acts as the official value for legal documentation, ensuring compliance with local regulations.