Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Thirumullaivoyal village, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area falls under the Ambattur 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 undergone several revisions over the years. In 2002, the guideline value was Rs 87 per sq.ft. This figure increased to Rs 110 per sq.ft in 2003, marking a rise of 26%. By 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 264%. The 2012 revision saw a drop to Rs 1,900 per sq.ft, a decrease of 375% from the previous figure. However, in 2017, the value rose again to Rs 1,273 per sq.ft, an increase of 49% from 2012. The guideline value further increased to Rs 1,900 per sq.ft in 2023, before reaching the current value of Rs 2,000 per sq.ft in 2024, a rise of 5%.

The register has no figure for the years not listed in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 2,199%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Thirumalai Nagar's current value below that median.

• Thirukural Main Road (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Thirumalai Nagar (Anna Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar Extn: Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Ganpathi Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kamaraj Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Kambar Street): Rs 2,000 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 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official value set by the government.

When a property is sold, the guideline value is assessed to determine the applicable fees. Buyers should be aware that the stamp duty and registration fees will be charged based on the higher of either the guideline value or the sale price, which ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 87 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 2,199% over this period.

What is the land classification of Thirumalai Nagar?

Thirumalai Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Thirumalai Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 20,00,000, the stamp duty at 7% would be Rs 1,40,000.