Guideline Value for Thirumalai Nagar (Pongundranachi Street)

Thirumalai Nagar (Pongundranachi Street) guideline value

The current guideline value for Thirumalai Nagar (Pongundranachi 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 is classified as Residential Class I Type - III.

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

Looking at the revisions over the years, the 2012 revision set the guideline value at Rs 1,900 per sq.ft. This figure was followed by a decrease to Rs 1,273 per sq.ft in 2017, marking a decline of 33%. The 2023 revision then increased the value to Rs 1,900 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,000 per sq.ft, reflecting a 5% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 5%. The revisions for the years 2002, 2003, and 2007 do not have figures listed for this street in the register.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Thirumalai Nagar (Pongundranachi Street) below this median.

• Thirumalai Nagar (Nehru Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Sathiyavinayagar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Vallalar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Mahaveer Garden): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (V.O.C. Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kambar Street): Rs 2,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the 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, making the total Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thirumalai Nagar (Pongundranachi Street) is the Ambattur Sub Registrar Office. The address is 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, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations, as it affects the stamp duty and registration fees applicable to the transaction.

When registering a property, 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 registration process reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value for Thirumalai Nagar (Pongundranachi Street) is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with a notable increase from Rs 1,900 per sq.ft in 2023 to Rs 2,000 per sq.ft in 2024. The value also decreased from Rs 1,900 per sq.ft in 2012 to Rs 1,273 per sq.ft in 2017 before increasing again.

What is the median guideline value for streets in Thirumullaivoyal?

The median guideline value for the 975 streets in Thirumullaivoyal is Rs 2,400 per sq.ft. Thirumalai Nagar (Pongundranachi Street) is below this median at Rs 2,000 per sq.ft.

What are the stamp duty and registration fees for a property in Thirumalai Nagar?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Thirumalai Nagar located?

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