Guideline Value for Thirumalai piriya Nagar

Thirumalai piriya Nagar guideline value

The current guideline value of Thirumalai piriya Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This locality is part of Oragadam village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumalai piriya Nagar has changed

Over the years, the guideline value of Thirumalai piriya Nagar has undergone several revisions. The earliest recorded revision in 2002 set the value at Rs 173 per sq.ft. This figure saw significant increases in subsequent years, with the value rising to Rs 500 per sq.ft in 2007, and then jumping to Rs 1,800 per sq.ft in 2012. However, there was a decrease in 2017, bringing it down to Rs 1,206 per sq.ft. The value then increased to Rs 1,800 per sq.ft in 2023, and finally, the most recent revision in 2024 has set it at Rs 1,900 per sq.ft.

The changes between these revisions highlight a notable fluctuation in values. From 2002 to 2007, there was an increase of 189%, followed by a substantial rise of 260% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, but then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 6% increase. Overall, from 2002 to 2024, the guideline value has increased by 998%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Thirumalai piriya Nagar is below this median.

• Thirumalai Street: Rs 1,600 per sq.ft (2024)
• Thiru mangai mannan Street (Venkateswara nagar): Rs 1,600 per sq.ft (2024)
• Thirumangaiyazhvar Street: Rs 1,600 per sq.ft (2024)
• Thirumoorthy Street: Rs 2,400 per sq.ft (2024)
• Thirumalai Main Street: Rs 1,600 per sq.ft (2024)
• Thilagar Street(A.K.A. nagar): Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai piriya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. 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 further calculations.

Which Sub Registrar Office covers Thirumalai piriya Nagar?

The Sub Registrar Office that covers Thirumalai piriya Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value of a property transaction, ensuring that properties are registered at a value that reflects the current market conditions as per the government regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirumalai piriya Nagar?

The current guideline value of Thirumalai piriya Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 173 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 998% over this period.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations in Thirumalai piriya Nagar?

The Ambattur Sub Registrar Office handles property registrations in Thirumalai piriya Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it determines the minimum value for property transactions, influencing the calculation of stamp duty and registration fees during the registration process.