Guideline Value for Thirumoorthy Nagar Extn

Thirumoorthy Nagar Extn guideline value

The current guideline value of Thirumoorthy Nagar Extn is Rs 950 per sq.ft. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thirumoorthy Nagar Extn has changed

The guideline value for Thirumoorthy Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest 2024 revision has further increased it to Rs 950 per sq.ft, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 6%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Thirumoorthy Nagar Extn is below this median.

• Thirumoorthy Nagar: Rs 950 per sq.ft (2024)
• Thirumalai Nagar Part: Rs 2,700 per sq.ft (2024)
• Thirunavokarasu Street: Rs 1,600 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Thirunavukarasu Street Extn: Rs 1,600 per sq.ft (2024)
• Thirumalai Nagar Extension 6th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumoorthy Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total cost for these fees to Rs 85,500. It is important to note that the 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 Thirumoorthy Nagar Extn?

The Thirumoorthy Nagar Extn is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Chembakkam. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It is advisable to consult the latest guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Thirumoorthy Nagar Extn?

The current guideline value of Thirumoorthy Nagar Extn is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 6%.

What is the land classification of Thirumoorthy Nagar Extn?

Thirumoorthy Nagar Extn is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 85,500.