Guideline Value for Thirumal Nagar

Thirumal Nagar guideline value

The current guideline value of Thirumal Nagar, located in Sothupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Thirumal Nagar has changed

The guideline value of Thirumal Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. The value then rose significantly to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is +120%. Notably, the jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2017 to 2023 was +49%. The most recent revision from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Sothupakkam

Sothupakkam village features 49 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 1,150 per sq.ft. The median guideline value is Rs 440 per sq.ft, which aligns with the current value of Thirumal Nagar.

• Thirumalai Nagar: Rs 440 per sq.ft (2024)
• Sri Vivek Nagar: Rs 440 per sq.ft (2024)
• Sri Vijaya Nagar: Rs 330 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 440 per sq.ft (2024)
• Sri Venkateshwara Nagar Extention: Rs 440 per sq.ft (2024)
• Sri Usha Garden: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 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 Sothupakkam

The guideline value plays a crucial role in the property registration process in Sothupakkam. It is used to determine the stamp duty and registration fees that must be paid during a property transaction. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

When purchasing or selling property, it is essential to refer to the latest guideline values to ensure compliance with the registration requirements. This ensures that all financial obligations related to the transaction are accurately calculated and fulfilled.

Frequently asked questions

What is the current guideline value of Thirumal Nagar?

The current guideline value of Thirumal Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Thirumal Nagar?

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

What is the land classification of Thirumal Nagar?

Thirumal Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.