Guideline Value for Thirumal Nagar

Thirumal Nagar guideline value

The current guideline value of Thirumal Nagar, located in Thiruneermalai village under the Pammal SRO, is Rs 2,200 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thirumal Nagar has changed

Over the years, the guideline value for Thirumal Nagar has seen significant changes. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, representing a 49% increase. The most recent revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that Thirumal Nagar's 2024 figure is below this median.

• Thirumangaialwarpuram: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Ambedkar Salai: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Jagajeevanram Street: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Thangavel Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar Kiqraj Manosarovar: Rs 2,200 per sq.ft (2024)
• Thiruneermalai Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is essential to note that the 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thiruneermalai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is regularly updated to reflect changes in the market and local conditions, ensuring that it remains relevant for property dealings.

Frequently asked questions

What is the current guideline value of Thirumal Nagar?

The current guideline value of Thirumal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets in Thiruneermalai with their guideline values?

Other streets in Thiruneermalai include Thirumangaialwarpuram at Rs 1,320 per sq.ft, Thirumangaiyalvarpuram, Ambedkar Salai at Rs 1,320 per sq.ft, and Thiruneermalai Main Road at Rs 3,300 per sq.ft.

How is stamp duty calculated in Thirumal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

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

The Sub Registrar Office for Thirumal Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registrations for the area.