Guideline Value for Thirumalai Nagar Extn

Thirumalai Nagar Extn guideline value

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

How the guideline value of Thirumalai Nagar Extn has changed

The guideline value for Thirumalai Nagar Extn has undergone various revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,900 per sq.ft. This figure remained unchanged until the next revision in 2023, which also recorded Rs 1,900 per sq.ft. However, the most recent revision in 2024 saw an increase to Rs 2,000 per sq.ft, marking a 5% rise from the previous year.

There are several years where the register has no figure for this street, including 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value increased by 5%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Thirumalai Nagar Extn is below this median.

• Thirumalai Nagar (Ganpathi Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kamaraj Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kambar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Mahaveer Garden): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Nehru Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Pongundranachi Street): Rs 2,000 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 2,000 per sq.ft, the guideline value totals 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirumalai Nagar Extn?

The Sub Registrar Office covering Thirumalai Nagar Extn 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 in property transactions in Thirumullaivoyal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This helps in maintaining transparency and fairness in property transactions, ensuring that both parties are aware of the value being attributed to the property.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Extn?

The current guideline value of Thirumalai Nagar Extn 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 1,900 per sq.ft in 2023, and then increased to Rs 2,000 per sq.ft in 2024, marking a total increase of 5% from 2012 to 2024.

What is the land classification of Thirumalai Nagar Extn?

Thirumalai Nagar Extn is classified as Residential Class I Type - III, indicating its suitability for residential developments.

What are the stamp duty rates for properties in Thirumalai Nagar Extn?

The stamp duty for properties in Thirumalai Nagar Extn is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Thirumalai Nagar Extn located?

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