Guideline Value for Thirumalai Nagar Part

Thirumalai Nagar Part guideline value

The current guideline value for Thirumalai Nagar Part is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Thirumalai Nagar Part has changed

The guideline value for Thirumalai Nagar Part has undergone several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value saw a decrease to Rs 1,675 per sq.ft in 2017. From 2017 to 2023, there was a substantial increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Chembakkam

In Chembakkam village, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, positioning Thirumalai Nagar Part's 2024 value above this median.

• Thirumalai Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Extension 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Ext: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 9th cross Street: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar Part

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for duty and registration would be Rs 2,43,000. 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 Part?

The Sub Registrar Office that covers Thirumalai Nagar Part is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value must be considered, as it affects the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar Part?

The current guideline value of Thirumalai Nagar Part is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over this period.

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

The stamp duty for properties in Thirumalai Nagar Part is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Thirumalai Nagar Part is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Thirumalai Nagar Part's value of Rs 2,700 per sq.ft being above this median.