Guideline Value for Thirumallai Nagar

Thirumallai Nagar guideline value

The current guideline value of Thirumallai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thirumallai Nagar has changed

Over the years, the guideline value of Thirumallai Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision saw a significant increase to Rs 134 per sq.ft, marking a 49% rise from the previous revision. The register has no figures for the years 2002, 2003, and 2007.

The most recent revision in 2024 maintains the guideline value at Rs 200 per sq.ft, reflecting no change from the 2023 revision. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft, indicating no fluctuations during this period.

Guideline values in Palnalloor

Palnalloor village has a total of 34 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Thirumallai Nagar's guideline value at the median.

• TheruVeethiamman Kovil Street: Rs 175 per sq.ft (2024)
• TheruVeethiamman Kovil North Street: Rs 175 per sq.ft (2024)
• Thanthoniamman Kovil Street: Rs 250 per sq.ft (2024)
• TV Room Street: Rs 175 per sq.ft (2024)
• VGP Vinoth Town: Rs 200 per sq.ft (2024)
• Vishvakarma Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumallai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirumallai Nagar?

The Sub Registrar Office that covers Thirumallai Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your specific SRO, you can find your SRO here.

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

The guideline value plays a crucial role during the registration of property transactions in Palnalloor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying or undervaluing the property during negotiations.

Frequently asked questions

What is the current guideline value of Thirumallai Nagar?

The current guideline value of Thirumallai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft during the 2012, 2023, and 2024 revisions. It increased from Rs 134 per sq.ft in 2017, marking a 49% rise from the previous revision.

What is the land classification of Thirumallai Nagar?

Thirumallai Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thirumallai Nagar?

The Sub Registrar Office for Thirumallai Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for a property in Thirumallai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.