Guideline Value for Thirumal Nagar

Thirumal Nagar guideline value

The current guideline value of Thirumal Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Polambakkam village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumal Nagar has changed

Over the years, the guideline value of Thirumal Nagar has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, it then decreased to Rs 47 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 100 per sq.ft, showing no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 113%, bringing the value to Rs 100 per sq.ft. Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 100%. The fluctuations in the guideline value reflect the various updates made by the registration department over the years.

Guideline values in Polambakkam

In Polambakkam village, there are 14 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. Thirumal Nagar's 2024 figure is below this median.

• Thillai Nagar: Rs 200 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -II: Rs 100 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -I: Rs 100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 275 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Sri Jaya Avenue: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumal Nagar?

The Sub Registrar Office that covers Thirumal Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Polambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is set by the registration department and is used to calculate the applicable fees during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Thirumal Nagar?

The current guideline value of Thirumal Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 100% over the years.

What is the land classification of Thirumal Nagar?

Thirumal Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thirumal Nagar?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot valued at Rs 1,00,000, the total fees would be Rs 9,000.

Which office handles property registrations in Thirumal Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Thirumal Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.