Guideline Value for Thirumalai Nagar Extn.

Thirumalai Nagar Extn. guideline value

The current guideline value for Thirumalai Nagar Extn. is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Thirumalai Nagar Extn. has changed

The guideline value for Thirumalai Nagar Extn. has seen significant changes over the years. In 2007, the value was Rs 888 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012, marking a rise of 204%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,809 per sq.ft. The value then surged by 49% to Rs 2,700 per sq.ft in 2023, before reaching the current rate of Rs 2,970 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 234%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the current guideline value for Thirumalai Nagar Extn.

• Thirumalai Kundru Street: Rs 2,380 per sq.ft (2024)
• Thirukural Street: Rs 1,650 per sq.ft (2024)
• Thiruporur Road: Rs 2,970 per sq.ft (2024)
• Thiropathi Nagar: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalai Nagar Extn.?

The Thirumalai Nagar Extn. area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, please visit find your SRO.

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

The guideline value is a crucial factor during property registration in Hastinapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price according to the local real estate market.

When buying or selling property, the guideline value affects the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar Extn.?

The current guideline value for Thirumalai Nagar Extn. is Rs 2,970 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 888 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 234% over the years.

What are the stamp duty and registration fees for properties in Thirumalai Nagar Extn.?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,67,300.

Which Sub Registrar Office handles registrations for Thirumalai Nagar Extn.?

The Pallavaram Sub Registrar Office handles registrations for Thirumalai Nagar Extn., located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What other streets have guideline values in Hastinapuram?

Other streets in Hastinapuram include Thirumalai Kundru Street at Rs 2,380 per sq.ft, Thirukural Street at Rs 1,650 per sq.ft, and Thiruporur Road at Rs 2,970 per sq.ft, among others.