Guideline Value for Thirumalai Nagar (Ganpathi Street)

Thirumalai Nagar (Ganpathi Street) guideline value

The current guideline value for Thirumalai Nagar (Ganpathi Street) is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Thirumalai Nagar (Ganpathi Street) has changed

The guideline value for Thirumalai Nagar (Ganpathi Street) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,900 per sq.ft, which was then reduced to Rs 1,273 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,900 per sq.ft in the 2023 revision, and currently stands at Rs 2,000 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, making the 2024 figure for Thirumalai Nagar (Ganpathi Street) below the median.

• Thirumalai Nagar Extn: Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kamaraj Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kambar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Mahaveer Garden): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Nehru Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Pongundranachi Street): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar (Ganpathi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, leading to a total of Rs 1,80,000 for the transaction. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar (Ganpathi Street)?

The Sub Registrar Office that covers Thirumalai Nagar (Ganpathi 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 Thirumullaivoyal

The guideline value is a crucial factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price reflects the guideline value to avoid any legal complications. The registration process requires accurate documentation that aligns with the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar (Ganpathi Street)?

The current guideline value for Thirumalai Nagar (Ganpathi Street) 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 changed from Rs 1,900 per sq.ft in 2012 to Rs 1,273 per sq.ft in 2017, then back to Rs 1,900 per sq.ft in 2023, and currently stands at Rs 2,000 per sq.ft in 2024.

What is the stamp duty rate for properties in Thirumalai Nagar?

The stamp duty rate for properties in Thirumalai Nagar is 7%, which is calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Thirumalai Nagar?

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

What is the land classification for Thirumalai Nagar (Ganpathi Street)?

Thirumalai Nagar (Ganpathi Street) is classified as Residential Class I Type - III, which indicates its designation for residential purposes.