Guideline Value for Thirumagal Nagar (Extn)

Thirumagal Nagar (Extn) guideline value

The current guideline value of Thirumagal Nagar (Extn) is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Thirumagal Nagar (Extn) has changed

Over the years, the guideline value of Thirumagal Nagar (Extn) has experienced several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, this value then decreased to Rs 469 per sq.ft in 2017. The 2023 revision maintained the value at Rs 700 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The transition from the 2007 revision to the 2012 revision saw a substantial increase of 338%, while the 2012 to 2017 period reflected a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 338%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Thirumagal Nagar (Extn) at the median value for 2024.

• Thirumagal Nagar: Rs 700 per sq.ft (2024)
• Thangavel Nagar: Rs 700 per sq.ft (2024)
• Thomas Nagar: Rs 500 per sq.ft (2024)
• United Avenue: Rs 1,050 per sq.ft (2024)
• Subashree Nagar Extension: Rs 1,000 per sq.ft (2024)
• Subashree Nagar: Rs 670 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumagal Nagar (Extn)

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 Thirumagal Nagar (Extn)?

The Thirumagal Nagar (Extn) area falls under the jurisdiction of 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 Atanancheri

The guideline value plays a crucial role in property transactions in Atanancheri. When buying or selling property, the guideline value is used to assess the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation rather than the sale price alone.

This ensures transparency in property transactions, as the guideline value is set by the Registration Department. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar (Extn)?

The current guideline value of Thirumagal Nagar (Extn) is Rs 700 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value is revised periodically, with the last revisions occurring in 2023 and 2024, both maintaining the value at Rs 700 per sq.ft.

What was the guideline value in 2017?

The guideline value of Thirumagal Nagar (Extn) in 2017 was Rs 469 per sq.ft.

Where can I find the registration office for Thirumagal Nagar (Extn)?

The registration office for Thirumagal Nagar (Extn) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated in Thirumagal Nagar (Extn)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.