Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Thirumalai Nagar has changed

Over the years, the guideline value of Thirumalai Nagar has seen several revisions. The 2007 revision set the guideline value at Rs 120 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a remarkable increase of 567%. However, by 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The 2023 revision brought the value back up to Rs 800 per sq.ft, and the most recent 2024 revision has increased it further to Rs 880 per sq.ft, reflecting a 10% rise.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Nandambakkam

Nandambakkam village has a range of guideline values across its 94 streets under the Padappai SRO, with the 2024 figures varying from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the current guideline value of Thirumalai Nagar.

• Thirumoorthy Nagar: Rs 770 per sq.ft (2024)
• Surya Nagar: Rs 1,210 per sq.ft (2024)
• Udhayam Nagar: Rs 720 per sq.ft (2024)
• Sri Vinayaka Avenue (540/4): Rs 990 per sq.ft (2024)
• Sri Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Sri Venkateswara 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 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 Nandambakkam

The guideline value is a crucial factor when buying or selling property in Nandambakkam. It is used to determine the stamp duty and registration fees that must be paid during the property registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification for Thirumalai Nagar?

The land classification for Thirumalai Nagar is Residential Class I Type - I.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Thirumalai Nagar?

Stamp duty in Thirumalai Nagar is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 61,600.