Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kattavakkam village, under the Walajabad SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision, where it was also Rs 300 per sq.ft. However, the 2017 revision marked a significant increase from the 2017 figure of Rs 201 per sq.ft, reflecting a 49% rise. The 2023 revision maintained the value at Rs 300 per sq.ft, and the 2024 revision also kept it at Rs 300 per sq.ft, resulting in no change from the previous year.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged, reflecting a stable pricing structure in recent years.

Guideline values in Kattavakkam

Kattavakkam village has a range of guideline values, with 19 streets under the Walajabad SRO carrying 2024 figures between Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Thirumalai Nagar's 2024 figure below that median.

• Unick Garden: Rs 400 per sq.ft (2024)
• Un Named Layout Survey No:377/2,1a1, 417/1,3: Rs 400 per sq.ft (2024)
• Un Named Layout Survey No:380/3,4, 392: Rs 350 per sq.ft (2024)
• Sri Kalaivani Nagar: Rs 400 per sq.ft (2024)
• Viswaroop: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar: Rs 350 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattavakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable at the time of the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the prescribed rates. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in the revisions for 2012, 2023, and 2024. There was a notable increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, but overall, the value has remained stable from 2012 to 2024.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of properties in the area, including Thirumalai Nagar.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at 7%, and the registration fee would be Rs 6,000 at 2%, totaling Rs 27,000. This is calculated based on the guideline value or the sale price, whichever is higher.

What other streets have guideline values in Kattavakkam?

Other streets in Kattavakkam include Unick Garden at Rs 400 per sq.ft, Un Named Layout Survey No:377/2,1a1, 417/1,3 at Rs 400 per sq.ft, Un Named Layout Survey No:380/3,4, 392 at Rs 350 per sq.ft, Sri Kalaivani Nagar at Rs 400 per sq.ft, Viswaroop at Rs 550 per sq.ft, and Sri Balaji Nagar at Rs 350 per sq.ft.