Guideline Value for Thirumalai Govinthan Nagar

Thirumalai Govinthan Nagar guideline value

The current guideline value of Thirumalai Govinthan Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thirumalai Govinthan Nagar has changed

The guideline value for Thirumalai Govinthan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 502 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 750 per sq.ft. The 2024 revision maintains this value at Rs 750 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable with a total change of +0%.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Thirumalai Govinthan Nagar's 2024 figure is below this median.

• TGM Nagar: Rs 850 per sq.ft (2024)
• Vallalar Street: Rs 750 per sq.ft (2024)
• Sri Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Govinthan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost for these fees to Rs 67,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirumalai Govinthan Nagar?

The Sub Registrar Office that covers Thirumalai Govinthan Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Govinthan Nagar?

The current guideline value of Thirumalai Govinthan Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft from 2012 to 2024, with a decrease to Rs 502 per sq.ft in 2017, followed by an increase back to Rs 750 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in Thirumalai Govinthan Nagar?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500, and the registration fee would be Rs 15,000, totaling Rs 67,500.

Which office handles property registrations in Vallam?

The Chengleput Joint I Sub Registrar Office handles property registrations in Vallam, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that the property is valued accurately for registration purposes.