Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Thiruneermalai village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen significant changes over the years. Starting from Rs 134 per sq.ft in 2002, it increased to Rs 245 per sq.ft in 2003, marking an increase of 83%. The value continued to rise, reaching Rs 435 per sq.ft in 2007, which was a 78% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,340 per sq.ft, reflecting a dramatic increase of 208% from 2007.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, showing a 49% increase from 2017. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. It is important to note that there is no figure available for the 2012 revision for this street.

Guideline values in Thiruneermalai

Thiruneermalai village has a total of 316 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this area is Rs 2,420 per sq.ft, indicating that Thirumalai Nagar's current figure is below this median.

• Thirumalai Nagar Kiqraj Manosarovar: Rs 2,200 per sq.ft (2024)
• Thirumal Nagar: Rs 2,200 per sq.ft (2024)
• Thirumangaialwarpuram: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Ambedkar Salai: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Jagajeevanram Street: Rs 1,320 per sq.ft (2024)
• Thirumangaiyalvarpuram, Thangavel Street: Rs 1,980 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thirumalai Nagar. It is used to determine the stamp duty and registration fees that must be paid during the transaction process. The guideline value ensures that the government receives the appropriate fees based on the property’s assessed value.

When buying or selling property, it is essential to refer to the current guideline value to understand the financial implications of the transaction. This value serves as a benchmark for both buyers and sellers, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1542% over this period.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is higher than the current value of Thirumalai Nagar.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

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

The Sub Registrar Office for Thirumalai Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the designated link.