Guideline Value for ThiruMalai Nagar

ThiruMalai Nagar guideline value

The current guideline value of ThiruMalai Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of ThiruMalai Nagar has changed

The guideline value for ThiruMalai Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, reflecting a rise of 260%. However, the value then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. The subsequent revision in 2023 raised the value to Rs 900 per sq.ft, and the latest revision in 2024 set it at Rs 990 per sq.ft, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 296%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,215 per sq.ft, indicating that ThiruMalai Nagar's 2024 figure of Rs 990 per sq.ft is below the median.

• Thangavel Nagar: Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,320 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 990 per sq.ft (2024)
• Teachers Colony: Rs 990 per sq.ft (2024)
• S.V. Nagar: Rs 770 per sq.ft (2024)
• Sun Ville: Rs 3,450 per sq.ft (2024)

Stamp duty and registration fee for property in ThiruMalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ThiruMalai Nagar?

The Sub Registrar Office that covers ThiruMalai Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mannivakkam. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives a fair amount based on the property's guideline value.

When selling property, the guideline value helps determine the minimum price at which the property can be registered. This is important for both buyers and sellers to be aware of, as it impacts the overall transaction costs and the legal requirements for property registration.

Frequently asked questions

What is the current guideline value of ThiruMalai Nagar?

The current guideline value of ThiruMalai Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, an overall increase of 296%.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles property registrations in ThiruMalai Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for ThiruMalai Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It also helps determine the minimum price for property registration, ensuring compliance with legal requirements.