Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar, located in Moonramkattalai village under the Kunrathur SRO, is Rs 1,350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar has changed

Over the years, the guideline value of Thirumalai Nagar has seen several revisions. In 2007, the value was Rs 275 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this figure decreased to Rs 804 per sq.ft in 2017. Following this, the guideline value rose to Rs 1,200 per sq.ft in 2023, and then further increased to the current rate of Rs 1,350 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the increase was 49%, while from 2023 to 2024, it saw a rise of 13%. The overall change from 2007 to 2024 is a substantial increase of 391%. The fluctuations in the guideline value reflect the historical changes in the area.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft. The median value for these streets is Rs 650 per sq.ft, placing Thirumalai Nagar's current value above this median.

• Thirupathi Nagar 1st Street: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar 2nd Street: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar 3rd Street: Rs 1,000 per sq.ft (2024)
• Thiruppathi Nagar: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 650 per sq.ft (2024)
• Sultan House Ist Santhu: Rs 650 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 1,350 per sq.ft, the total guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, totaling Rs 1,21,500. 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 details.

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, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Moonramkattalai. It is used to determine the amount of stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is the baseline for these fees, and it is essential for ensuring compliance with local regulations.

When purchasing property, the guideline value helps establish a fair and transparent process for both parties involved in the transaction. It ensures that the government receives the appropriate revenue from property transactions, which is vital for local infrastructure and services.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2007 to Rs 1,350 per sq.ft in 2024, reflecting an overall increase of 391% over the years.

What is the land classification of Thirumalai Nagar?

Thirumalai Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 13,50,000, the stamp duty would be Rs 94,500 and the registration fee would be Rs 27,000, totaling Rs 1,21,500.

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.