Guideline Value for Thirumagal Nagar Main Road

Thirumagal Nagar Main Road guideline value

The current guideline value of Thirumagal Nagar Main Road is Rs 2,150 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumagal Nagar Main Road has changed

The guideline value for Thirumagal Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision raised it further to Rs 2,150 per sq.ft, reflecting an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is equal to the guideline value of Thirumagal Nagar Main Road.

• Thirumagal Nagar: Rs 2,150 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,400 per sq.ft (2024)
• Tellus Avenue Phase II Extension: Rs 2,700 per sq.ft (2024)
• Tellus Avenue Phase II: Rs 2,700 per sq.ft (2024)
• Tellus Avenue Phase I: Rs 4,000 per sq.ft (2024)
• Tellus Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumagal Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,150 per sq.ft, the guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumagal Nagar Main Road?

The Thirumagal Nagar Main Road falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Rajakilpakkam, as it determines the minimum value at which properties must be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable duties and fees.

When a property is sold, the registration office will assess the guideline value to ensure that the transaction reflects the market conditions. This ensures that all parties are compliant with local regulations and that the correct taxes are levied on property transactions.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar Main Road?

The current guideline value of Thirumagal Nagar Main Road is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the classification of land in Thirumagal Nagar Main Road?

The land classification for Thirumagal Nagar Main Road is Residential Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Thirumagal Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 21,50,000, the stamp duty would be Rs 1,50,500 at 7%.