Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kudalur village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. The earliest recorded value was Rs 20 per sq.ft in 2007, which increased significantly to Rs 70 per sq.ft in 2012, marking a 250% rise. However, this value decreased to Rs 47 per sq.ft in 2017, reflecting a 33% drop. The value remained unchanged at Rs 100 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kudalur

In Kudalur village, there are 10 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 299 per sq.ft, with the median value being Rs 100 per sq.ft. Thirumalai Nagar's 2024 guideline value aligns with this median.

• Srinivasa Nagar: Rs 100 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 100 per sq.ft (2024)
• Sasi Nagar: Rs 100 per sq.ft (2024)
• Rasi Nagar Phase-II: Rs 111 per sq.ft (2024)
• Rallys Nagar: Rs 100 per sq.ft (2024)
• Madan City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when buying or selling property in Kudalur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value serves as a baseline for these calculations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to assess the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 20 per sq.ft in 2007, increasing to Rs 70 per sq.ft in 2012, then decreasing to Rs 47 per sq.ft in 2017, and remaining at Rs 100 per sq.ft in both 2023 and 2024.

What are the other streets in Kudalur with their guideline values?

Other streets in Kudalur include Srinivasa Nagar, Sri Mugambigai Nagar, Sasi Nagar, Rasi Nagar Phase-II, Rallys Nagar, and Madan City, all with varying guideline values, with some also set at Rs 100 per sq.ft.

What are the stamp duty and registration fees for property in Thirumalai Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,00,000, the total fees would amount to Rs 9,000.

Which office handles property registrations in Thirumalai Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Thirumalai Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.