Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased to Rs 670 per sq.ft in 2017, marking a significant rise of 123%. The value then rose to Rs 1,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The current value of Rs 1,100 per sq.ft in 2024 represents a further increase of 10% from 2023.

Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available in the register for the years 2002, 2003, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Thirumalai Nagar is below this median.

• Thirumalai Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar Salai: Rs 1,100 per sq.ft (2024)
• Thirumenieshwarar Koil Street: Rs 1,100 per sq.ft (2024)
• Thiru Nagar: Rs 1,650 per sq.ft (2024)
• Theepanchiyamman Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Thirumalai Nagar?

The Thirumalai Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the stamp duty and registration fees, which are mandatory for completing the sale. This ensures that both parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking a total increase of 267% over the years.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Class II Type - I.

Where can I find the registration office for Thirumalai Nagar?

The registration office for Thirumalai Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Thirumalai Nagar?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.