Guideline Value for Thirumagal Nagar

Thirumagal Nagar guideline value

The current guideline value of Thirumagal Nagar, located in Kaval Kazhani village under the Sunguvarchattram SRO, is Rs 226 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Thirumagal Nagar has changed

The guideline value for Thirumagal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 225 per sq.ft, which slightly decreased to Rs 151 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 226 per sq.ft. Notably, there have been no figures for this street in the revisions of 2002, 2003, and 2007.

In the subsequent 2023 revision, the guideline value remained unchanged at Rs 226 per sq.ft, reflecting a 0% change from the previous year. Overall, from the 2012 revision to the current 2024 revision, the guideline value has not changed, remaining at Rs 226 per sq.ft.

Guideline values in Kaval Kazhani

Kaval Kazhani village features a range of guideline values across its 20 streets under the Sunguvarchattram SRO. The guideline value for Thirumagal Nagar is below the median value of Rs 300 per sq.ft for the area. The values for other streets in Kaval Kazhani are as follows:

• Thirumalai nagar phase-III: Rs 400 per sq.ft (2024)
• Thirumal Nagar Extension: Rs 226 per sq.ft (2024)
• Teachers VIP Layout: Rs 400 per sq.ft (2024)
• Suncity I,II: Rs 300 per sq.ft (2024)
• Suncity: Rs 300 per sq.ft (2024)
• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumagal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, resulting in a total of Rs 20,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumagal Nagar?

The Sub Registrar Office that covers Thirumagal Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Kaval Kazhani. It determines the stamp duty and registration fees that must be paid, ensuring that both parties are aware of the official valuation of the property.

When a property is registered, the guideline value acts as a benchmark for taxation purposes. Buyers and sellers should be informed of the current guideline value to understand their financial obligations accurately.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar?

The current guideline value of Thirumagal Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged from 2023 to 2024 at Rs 226 per sq.ft. It increased from Rs 151 per sq.ft in 2017 to Rs 226 per sq.ft in 2023, which is a 50% increase.

What is the median guideline value in Kaval Kazhani?

The median guideline value in Kaval Kazhani is Rs 300 per sq.ft. Thirumagal Nagar's guideline value is below this median.

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

For a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820, and the registration fee would be Rs 4,520, totaling Rs 20,340.

Where can I find the Sub Registrar Office for Thirumagal Nagar?

The Sub Registrar Office for Thirumagal Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.