Guideline Value for Thirumalai nagar Annex

Thirumalai nagar Annex guideline value

The current guideline value of Thirumalai nagar Annex is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puthur village under the Tambaram Joint 1 SRO, classified as Residential Special Type - V.

How the guideline value of Thirumalai nagar Annex has changed

The guideline value for Thirumalai nagar Annex has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the value decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Thirumalai nagar Annex.

• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thanigaivel Nagar: Rs 330 per sq.ft (2024)
• Sunrise Avenue: Rs 3,300 per sq.ft (2024)
• United Colony: Rs 1,320 per sq.ft (2024)
• Subramaniapuram: Rs 550 per sq.ft (2024)
• Vignesh Colony: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai nagar Annex?

The Thirumalai nagar Annex falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Puthur. It serves as a benchmark for determining the stamp duty and registration fees payable on the property being bought or sold.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai nagar Annex?

The current guideline value of Thirumalai nagar Annex is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Thirumalai nagar Annex?

Thirumalai nagar Annex is classified as Residential Special Type - V, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Thirumalai nagar Annex?

The Sub Registrar Office covering Thirumalai nagar Annex is the Tambaram Joint 1 SRO, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.