Guideline Value for Thirumalai Nagar (Sathiyavinayagar Street)

Thirumalai Nagar (Sathiyavinayagar Street) guideline value

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

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

In the 2012 revision, the guideline value was Rs 1,900 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,273 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,900 per sq.ft in the 2023 revision, representing a 49% increase from the 2017 figure.

The most recent 2024 revision set the guideline value at Rs 2,000 per sq.ft, reflecting a 5% increase from the previous year. Overall, from the 2012 revision to the 2024 revision, 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 value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Thirumalai Nagar (Sathiyavinayagar Street) is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thirumalai Nagar (Sathiyavinayagar 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 when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is compliant with government regulations.

Frequently asked questions

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

The current guideline value for Thirumalai Nagar (Sathiyavinayagar 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 increased to Rs 1,900 per sq.ft in 2023, and finally to Rs 2,000 per sq.ft in 2024.

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

Thirumalai Nagar (Sathiyavinayagar Street) is classified as Residential Class I Type - III under the guideline value register.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,80,000.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Thirumalai Nagar (Sathiyavinayagar Street), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.