Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Puzhuthivakkam village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 80 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, it decreased to Rs 134 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 200 per sq.ft, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 reflects a substantial increase of 150%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median of Rs 200 per sq.ft. Thirumalai Nagar's 2024 figure aligns with this median.

• Thirumagal Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)
• Vip City: Rs 250 per sq.ft (2024)
• VIP CITY in RDS GARDEN: Rs 150 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Puzhuthivakkam

The guideline value is a crucial factor in property transactions in Puzhuthivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential to note that the fees are charged based on the higher amount between the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the stamp duty rate for properties in Thirumalai Nagar?

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

Where is the Sub Registrar Office for Thirumalai Nagar located?

The Sub Registrar Office for Thirumalai Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to consider this value to comply with local regulations.