Guideline Value for Thirumalai Main Street

Thirumalai Main Street guideline value

The current guideline value of Thirumalai Main Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Thirumalai Main Street has changed

The guideline value for Thirumalai Main Street has seen several revisions over the years. In 2002, the value was Rs 110 per sq.ft, which increased to Rs 119 per sq.ft in 2003. Following this, there was a significant rise to Rs 500 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, and currently, it stands at Rs 1,600 per sq.ft as of 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +8%. The jump from 2003 to 2007 was +320%, followed by a rise of +200% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After that, there was a substantial increase of +49% from 2017 to 2023, and a further rise of +7% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1355%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the 2024 figure for Thirumalai Main Street below that median.

• Thirumalai piriya Nagar: Rs 1,900 per sq.ft (2024)
• Thirumalai Street: Rs 1,600 per sq.ft (2024)
• Thiru mangai mannan Street (Venkateswara nagar): Rs 1,600 per sq.ft (2024)
• Thirumangaiyazhvar Street: Rs 1,600 per sq.ft (2024)
• Thirumoorthy Street: Rs 2,400 per sq.ft (2024)
• Thilagar Street(A.K.A. nagar): Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Main Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumalai Main Street?

The Sub Registrar Office covering Thirumalai Main Street 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 information.

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

The guideline value plays a crucial role during property registration in Oragadam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Thirumalai Main Street?

The current guideline value of Thirumalai Main Street 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 significantly from Rs 110 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of +1355% over the years.

What is the median guideline value in Oragadam?

The median guideline value in Oragadam is Rs 2,200 per sq.ft, with Thirumalai Main Street's 2024 figure being below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Thirumalai Main Street is charged at 7%, while the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thirumalai Main Street?

The Sub Registrar Office for Thirumalai Main Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.