Guideline Value for Thirumalai nagar phase-III

Thirumalai nagar phase-III guideline value

The current guideline value of Thirumalai nagar phase-III is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Kaval Kazhani village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Thirumalai nagar phase-III has changed

The guideline value for Thirumalai nagar phase-III has seen several revisions over the years. As per the register, the value was Rs 268 per sq.ft in 2017. It remained unchanged at Rs 400 per sq.ft during the 2023 revision and continues at the same rate for the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2017 to 2024 also reflects a 49% increase, as the value has not changed since 2023.

Guideline values in Kaval Kazhani

Kaval Kazhani village has a range of guideline values across its 20 streets under the Sunguvarchattram SRO. The 2024 figures for these streets vary from Rs 226 to Rs 1,550 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Thirumalai nagar phase-III is above this median.

• Thirumal Nagar Extension: Rs 226 per sq.ft (2024)
• Thirumagal Nagar: Rs 226 per sq.ft (2024)
• Teachers VIP Layout: Rs 400 per sq.ft (2024)
• Suncity I,II: Rs 300 per sq.ft (2024)
• Suncity: Rs 300 per sq.ft (2024)
• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai nagar phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, which totals Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee comes to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai nagar phase-III?

The Thirumalai nagar phase-III area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaval Kazhani. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established rates set by the government.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the duties. This ensures compliance with legal requirements and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai nagar phase-III?

The current guideline value of Thirumalai nagar phase-III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 268 per sq.ft to Rs 400 per sq.ft in 2024, marking a 49% increase overall. The value remained unchanged from 2023 to 2024.

What are the guideline values for other streets in Kaval Kazhani?

In Kaval Kazhani, the guideline values for other streets range from Rs 226 to Rs 1,550 per sq.ft, with a median of Rs 300 per sq.ft. Thirumalai nagar phase-III is above this median value.

Where is the Sunguvarchattram Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirumalai nagar phase-III?

Stamp duty for properties in Thirumalai nagar phase-III is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000.