Guideline Value for Thirumoorthi Nagar

Thirumoorthi Nagar guideline value

The current guideline value of Thirumoorthi Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Thirumoorthi Nagar has changed

The guideline value for Thirumoorthi Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 500 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 3,000 per sq.ft, which was a 500% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, marking a reduction of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and further to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, there has been a substantial increase of 560% in the guideline value.

There are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Thirumoorthi Nagar's 2024 guideline value is above this median.

• Thiruvalluvar Nagar/Street: Rs 1,600 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 1,400 per sq.ft (2024)
• Thiruvotthiyur High Road: Rs 3,800 per sq.ft (2024)
• S.V.M.Nagar: Rs 1,600 per sq.ft (2024)
• Valluvar Nagar: Rs 1,400 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumoorthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumoorthi Nagar?

The Thiruvottiyur Sub Registrar Office covers Thirumoorthi Nagar. The office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Ernavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, and it helps in maintaining transparency in property dealings. This value is used to calculate the applicable fees based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Thirumoorthi Nagar?

The current guideline value of Thirumoorthi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560%.

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

Other streets in Ernavur include Thiruvalluvar Nagar at Rs 1,600 per sq.ft, Thiruveethiyamman Koil Street at Rs 1,400 per sq.ft, and Thiruvotthiyur High Road at Rs 3,800 per sq.ft, among others.

What is the registration fee for property in Thirumoorthi Nagar?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

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

The Sub Registrar Office for Thirumoorthi Nagar is the Thiruvottiyur SRO, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.