Guideline Value for Thirumal Srinivasa Nagar

Thirumal Srinivasa Nagar guideline value

The current guideline value of Thirumal Srinivasa Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village under the Ambattur SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Thirumal Srinivasa Nagar has changed

The guideline value for Thirumal Srinivasa Nagar has seen several revisions over the years. Starting with the 2007 revision, the value was Rs 400 per sq.ft. This increased significantly to Rs 1,900 per sq.ft in the 2012 revision, marking a 375% rise. However, the value decreased to Rs 1,273 per sq.ft in 2017, which was a 33% drop. The 2023 revision set the value at Rs 1,900 per sq.ft, followed by a 5% increase to Rs 2,000 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median of Rs 1,500 per sq.ft. Thirumal Srinivasa Nagar's 2024 figure of Rs 2,000 per sq.ft is above this median.

• Thiruvalluvar Street: Rs 1,100 per sq.ft (2024)
• Thiru-Vi-Ka Street: Rs 2,000 per sq.ft (2024)
• Subramaniya Nagar: Rs 1,300 per sq.ft (2024)
• Vaibhav Enclave: Rs 2,800 per sq.ft (2024)
• Subash Nagar: Rs 2,300 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumal Srinivasa Nagar?

The Sub Registrar Office that covers Thirumal Srinivasa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and fairly within the legal framework.

Frequently asked questions

What is the current guideline value of Thirumal Srinivasa Nagar?

The current guideline value of Thirumal Srinivasa Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2024, representing a 400% increase overall. There have been several revisions, with the most recent being a 5% increase from Rs 1,900 per sq.ft in 2023.

What is the land classification for Thirumal Srinivasa Nagar?

Thirumal Srinivasa Nagar falls under the Residential Class II Type - III land classification. This classification affects the guideline value applicable to properties in this area.

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

The Sub Registrar Office for Thirumal Srinivasa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Thirumal Srinivasa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 at 7%.