Guideline Value for Thirumazhisai Garden

Thirumazhisai Garden guideline value

The current guideline value of Thirumazhisai Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madavilagam village under the Poonamallee SRO, classified as Industries Type - I.

How the guideline value of Thirumazhisai Garden has changed

The guideline value for Thirumazhisai Garden has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value figure ranging from Rs 660 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Thirumazhisai Garden's 2024 value above that median.

• Thenndaimada veethi 169/1,2: Rs 1,100 per sq.ft (2024)
• Veeterirundha perumal: Rs 660 per sq.ft (2024)
• Vetri Garden Annex: Rs 1,100 per sq.ft (2024)
• Shanmugapuram sandhu 169/1,2: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 3street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 2street 155/3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumazhisai Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumazhisai Garden?

The Thirumazhisai Garden area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Madavilagam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

Frequently asked questions

What is the current guideline value for Thirumazhisai Garden?

The current guideline value for Thirumazhisai Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Thirumazhisai Garden?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles registrations for Thirumazhisai Garden?

The Poonamallee Sub Registrar Office handles registrations for Thirumazhisai Garden, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value determined in Madavilagam?

The guideline value in Madavilagam is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across different streets.