Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This locality is situated in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 sees the guideline value set at Rs 770 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Thirumalai Nagar's 2024 figure below this median.

• Thamarai Kanni Amman Koil Street: Rs 880 per sq.ft (2024)
• Tellus Avenue: Rs 1,930 per sq.ft (2024)
• T.C.Township: Rs 1,430 per sq.ft (2024)
• Thiru Vi Ka Street: Rs 880 per sq.ft (2024)
• SVS Nagar: Rs 1,430 per sq.ft (2024)
• Udayam Nagar: Rs 880 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more calculations.

Which Sub Registrar Office covers Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manimangalam A. It serves as a reference point for determining the stamp duty and registration fees, which are necessary for legal ownership transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Manimangalam A?

The median guideline value in Manimangalam A for 2024 is Rs 880 per sq.ft. Thirumalai Nagar's guideline value is below this median.

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

For a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for Thirumalai Nagar?

The Padappai Sub Registrar Office handles registrations for Thirumalai Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.