Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Manancheri village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is 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. In 2007, the value was set at Rs 175 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012. However, in 2017, the value decreased to Rs 804 per sq.ft. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024, and there was a notable increase of 49% from 2017 to 2023. The period from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 586%. Overall, from 2007 to 2024, the guideline value has increased by 654%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value in the village is Rs 990 per sq.ft, placing Thirumalai Nagar's 2024 figure above this median.

• Sri Vidhyalakshmi Avenue: Rs 990 per sq.ft (2024)
• Vaniar Street: Rs 990 per sq.ft (2024)
• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Srimathi Neelambal Nagar: Rs 990 per sq.ft (2024)
• Vel Nagar: Rs 990 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar Extension: 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 guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Manancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, based on the established guideline values for their respective areas.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 175 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Special Type - I, indicating its intended use for residential purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles property registrations for Thirumalai Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Thirumalai Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.