Guideline Value for Thirumagal Nagar

Thirumagal Nagar guideline value

The current guideline value of Thirumagal Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Koozhangacheri village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

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 350 per sq.ft, which remained unchanged through the 2017 revision. However, in 2017, the value was adjusted down to Rs 234 per sq.ft, marking a decrease of 33%. In the subsequent revisions, the value returned to Rs 350 per sq.ft in both 2023 and 2024, reflecting a 50% increase from the 2017 figure but no overall change from 2012 to 2024.

It is important to note that the guideline register has no figures for the years 2002, 2003, and 2007 for this street. The consistency in the value from 2023 to 2024 indicates stability at the current rate of Rs 350 per sq.ft.

Guideline values in Koozhangacheri

Koozhangacheri village features 47 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 226 per sq.ft, placing Thirumagal Nagar above this median.

• Thillai Nagar: Rs 200 per sq.ft (2024)
• Theru Veethiamman Kovil Street: Rs 200 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 250 per sq.ft (2024)
• Vansanthapuram: Rs 200 per sq.ft (2024)
• Vasantha Garden: Rs 200 per sq.ft (2024)
• Vasantham Nagar: Rs 200 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, calculated at 7%, would be Rs 24,500, and the registration fee, at 2%, would be Rs 7,000. Together, these fees total Rs 31,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koozhangacheri. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value as it directly impacts the overall cost of property transactions.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is aligned with the current market standards set by the registration department.

Frequently asked questions

What is the current guideline value of Thirumagal Nagar?

The current guideline value of Thirumagal Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in 2012, 2023, and 2024, while it was Rs 234 per sq.ft in 2017, marking a decrease followed by a return to Rs 350 per sq.ft in subsequent revisions.

What are the stamp duty rates for properties in Thirumagal Nagar?

The stamp duty for properties in Thirumagal Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the same value.

Which Sub Registrar Office should I approach for registration?

The Sunguvarchattram Sub Registrar Office is responsible for registrations in Thirumagal Nagar. It is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

Are there other streets in Koozhangacheri with different guideline values?

Yes, there are other streets in Koozhangacheri with varying guideline values ranging from Rs 200 to Rs 1,200 per sq.ft. Thirumagal Nagar's value of Rs 350 per sq.ft is above the median value of Rs 226 per sq.ft for the area.