Guideline Value for Thirumalai Nagar Main Road

Thirumalai Nagar Main Road guideline value

The current guideline value of Thirumalai Nagar Main Road is Rs 3,550 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thirumalai Nagar Main Road has changed

The guideline value for Thirumalai Nagar Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in 2017. In 2023, the value increased again to Rs 3,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,550 per sq.ft.

Between the revisions, notable changes include an increase of 49% from 2017 to 2023 and an 11% increase from 2023 to 2024. The overall change from 2012 to 2024 is an increase of 11%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are a total of 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, making the guideline value of Thirumalai Nagar Main Road above the median.

• Thirumalainagar Extn: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar 1 to 6 Street: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar: Rs 3,550 per sq.ft (2024)
• Thirupathi Nagar Road: Rs 3,550 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 5,500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value would be Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, totaling Rs 3,19,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumalai Nagar Main Road?

The Sub Registrar Office that covers Thirumalai Nagar Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Ramapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation and ensures that appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Main Road?

The current guideline value of Thirumalai Nagar Main Road is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally reached Rs 3,550 per sq.ft in 2024.

What are the other streets in Ramapuram with the same guideline value?

Other streets in Ramapuram, such as Thirumalainagar Extn, Thirumalai Nagar 1 to 6 Street, Thirumalai Nagar, and Thirupathi Nagar Road, also have a guideline value of Rs 3,550 per sq.ft as of 2024.

How is stamp duty calculated for properties in Thirumalai Nagar Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a stamp duty of Rs 2,48,500.

Where can I find the Sub Registrar Office for Thirumalai Nagar Main Road?

The Sub Registrar Office for Thirumalai Nagar Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.