Guideline Value for Thirumalai Nagar - I,II Street

Thirumalai Nagar - I,II Street guideline value

The current guideline value of Thirumalai Nagar - I,II Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Thirumalai Nagar - I,II Street has changed

The guideline value for Thirumalai Nagar - I,II Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, by 2017, the value dropped to Rs 1,206 per sq.ft, a decrease of 33%. The next revision in 2023 saw the value increase to Rs 1,800 per sq.ft, followed by a further increase to Rs 1,980 per sq.ft in 2024, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Thirumalai Nagar - I,II Street is below this median.

• Thirumalisai Alvar Street: Rs 2,310 per sq.ft (2024)
• Thirumangai Alwar Theru: Rs 1,650 per sq.ft (2024)
• Thirugnana Sampanthar Street: Rs 2,640 per sq.ft (2024)
• Thirubana Alvar Street: Rs 1,650 per sq.ft (2024)
• Thilakar Street Extn: Rs 2,640 per sq.ft (2024)
• Thilakar Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar - I,II Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. 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 - I,II Street?

The Thirumalai Nagar - I,II Street is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar - I,II Street?

The current guideline value of Thirumalai Nagar - I,II Street is Rs 1,980 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 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What is the land classification for Thirumalai Nagar - I,II Street?

Thirumalai Nagar - I,II Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

For a plot size of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,78,200, based on the guideline value of Rs 19,80,000.

Which office handles registrations for Thirumalai Nagar - I,II Street?

The registrations for Thirumalai Nagar - I,II Street are handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.