Guideline Value for Thirumalai Layout

Thirumalai Layout guideline value

The current guideline value of Thirumalai Layout is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Mambakkam village and is governed by the Gooduvancheri SRO. The land classification for this layout is Commercial Class I Type - II.

How the guideline value of Thirumalai Layout has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 1,200 per sq.ft, representing a 49% rise from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained the same at Rs 1,200 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Mambakkam

No specific village figures are provided for Mambakkam. Thirumalai Layout is part of the Mambakkam area, which is under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in Thirumalai Layout

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Layout?

The Thirumalai Layout is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Mambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate applicable stamp duty and registration fees during the transaction.

When a property is sold, the registration office will assess the guideline value or the sale price, whichever is higher, to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirumalai Layout?

The current guideline value of Thirumalai Layout is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then back to Rs 1,200 per sq.ft in 2023. This represents a 49% increase from 2017 to 2023.

What land classification does Thirumalai Layout fall under?

Thirumalai Layout is classified as Commercial Class I Type - II. This classification can impact the types of developments allowed in the area.

What is the stamp duty rate for property transactions in Thirumalai Layout?

The stamp duty rate for property transactions in Thirumalai Layout is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.