Guideline Value for Thirumalaivasan nagar

Thirumalaivasan nagar guideline value

The current guideline value of Thirumalaivasan nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Thirumalaivasan nagar has changed

The guideline value for Thirumalaivasan nagar has seen several revisions over the years. Starting with the 2003 revision, the guideline value was Rs 125 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a change of +220%. The value then rose dramatically to Rs 2,200 per sq.ft in 2012, reflecting a change of +450%. The 2023 revision maintained this value at Rs 2,200 per sq.ft, with no change from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 2,400 per sq.ft, which is a +9% increase from 2023.

In summary, from 2003 to 2024, the overall increase in the guideline value for Thirumalaivasan nagar is +1820%. It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which matches the current guideline value of Thirumalaivasan nagar.

• Thirumalai Nagar (V.O.C. Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Vallalar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Sathiyavinayagar Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Pongundranachi Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Nehru Street): Rs 2,000 per sq.ft (2024)
• Thirumalai Nagar (Mahaveer Garden): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalaivasan nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost for these fees Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumalaivasan nagar?

The Sub Registrar Office that covers Thirumalaivasan 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 Thirumullaivoyal

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling 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, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thirumalaivasan nagar?

The current guideline value of Thirumalaivasan nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 125 per sq.ft to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +1820%.

What are the other streets in Thirumullaivoyal and their guideline values?

Other streets in Thirumullaivoyal include Thirumalai Nagar (V.O.C. Street), Thirumalai Nagar (Vallalar Street), Thirumalai Nagar (Sathiyavinayagar Street), Thirumalai Nagar (Pongundranachi Street), Thirumalai Nagar (Nehru Street), and Thirumalai Nagar (Mahaveer Garden), all valued at Rs 2,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Thirumalaivasan nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,00,000, the total fees would be Rs 2,16,000.

Which Sub Registrar Office covers Thirumalaivasan nagar?

The Ambattur Sub Registrar Office covers Thirumalaivasan nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.