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 Puzhal village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Thirumal Nagar has changed

The guideline value for Thirumal Nagar has experienced several revisions over the years. In 2002, the guideline value was Rs 804 per sq.ft. This figure changed to Rs 93 per sq.ft in 2003, marking a decrease of 88%. The value then rose significantly to Rs 300 per sq.ft in 2007, an increase of 223%. By 2012, the value was Rs 800 per sq.ft, which was a rise of 167%. In 2017, the value adjusted to Rs 536 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, showing an increase of 87%. Finally, the current 2024 revision has established the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions of the years not listed in the register for this street. The overall change from 2002 to 2024 is an increase of 37% in the guideline value.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing Thirumal Nagar's value below that median.

• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thiruneelaganda Nagar: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 1st Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar 3rd Part: Rs 1,650 per sq.ft (2024)
• Thiruneelaganda Nagar IInd Part: Rs 1,650 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 1,100 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 would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumal Nagar?

The Sub Registrar Office that covers Thirumal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property as determined by the Registration Department. This value is essential for both buyers and sellers to understand their financial obligations 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 several times, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, a 10% increase.

What is the land classification for Thirumal Nagar?

Thirumal Nagar is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Thirumal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Thirumal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would be Rs 99,000.