Guideline Value for Thirumalai Nagar (Vallalar Street)

Thirumalai Nagar (Vallalar Street) guideline value

The current guideline value for Thirumalai Nagar (Vallalar 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 (Vallalar Street) has changed

Looking at the historical revisions, the guideline value for Thirumalai Nagar (Vallalar Street) has seen several changes. In 2012, the value was Rs 1,900 per sq.ft, which decreased to Rs 1,273 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 1,900 per sq.ft in 2023, and currently stands at Rs 2,000 per sq.ft from the 2024 revision, reflecting a 5% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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 guideline values 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, which means the guideline value for Thirumalai Nagar (Vallalar Street) is below the median.

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering Thirumalai Nagar (Vallalar Street) is the Ambattur Sub Registrar Office. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for Thirumalai Nagar (Vallalar 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 several times, with the most recent increase from Rs 1,900 per sq.ft in 2023 to Rs 2,000 per sq.ft in 2024. The value was Rs 1,273 per sq.ft in 2017 and Rs 1,900 per sq.ft in 2012.

What is the classification of Thirumalai Nagar (Vallalar Street)?

Thirumalai Nagar (Vallalar Street) is classified as Residential Class I Type - III. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in Thirumalai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft would incur a total stamp duty of Rs 1,40,000 at 7%.