Guideline Value for Thirumal Nagar

Thirumal Nagar guideline value

The current guideline value of Thirumal Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thirumal Nagar has changed

The guideline value for Thirumal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. However, the latest revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. The changes from the previous revisions highlight the fluctuations in property values over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Thirumal Nagar is below this median.

• Thirumalai Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 3rd Cross Street: Rs 2,750 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumal Nagar?

Thirumal Nagar is covered by 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 Madambakkam

The guideline value plays a crucial role in the registration of property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of the transaction. Ensuring accurate calculations based on the guideline value can help avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumal Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then increased to Rs 1,100 per sq.ft in 2024. This reflects a 64% increase from the 2017 figure.

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

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office should I approach for property registration in Thirumal Nagar?

The Selaiyur Sub Registrar Office is responsible for property registration in Thirumal Nagar. Its address is No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification for Thirumal Nagar?

The land classification for Thirumal Nagar is Residential Class III Type - I, which indicates its use for residential purposes.