Guideline Value for Thirumal Nagar

Thirumal Nagar guideline value

The current guideline value of Thirumal Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thirumal Nagar has changed

The guideline value for Thirumal Nagar has seen revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. The latest revision in 2024 has increased this value to Rs 1,600 per sq.ft, marking a change of +7% from the 2012 figure.

There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street. The 2024 guideline value of Rs 1,600 per sq.ft aligns with the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

In Madhavaram, the guideline values for various streets range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. Thirumal Nagar's 2024 figure of Rs 1,600 per sq.ft is equal to the median value for the area.

• Thirumal Nagar (Vinayagapuram): Rs 1,600 per sq.ft (2024)
• Thirumangalam Nagar (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Thirumalai Nagar (Ward-29): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Sastri Nagar Main Road (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar, Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Main Road (Ward No.24): Rs 2,700 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumal Nagar?

The Thirumal Nagar area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value or the sale price is considered for calculating the applicable fees, ensuring that the registration reflects the correct financial commitment involved in the transaction.

Frequently asked questions

What is the current guideline value of Thirumal Nagar?

The current guideline value of Thirumal Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Thirumal Nagar?

The Madhavaram Sub Registrar Office covers Thirumal Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thirumal Nagar?

The land classification for Thirumal Nagar is Residential Class II Type - I, indicating its designated use for residential purposes.