Guideline Value for Thirumoorthy Nagar

Thirumoorthy Nagar guideline value

The current guideline value of Thirumoorthy Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This locality is situated in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Thirumoorthy Nagar has changed

The guideline value for Thirumoorthy Nagar has seen significant changes over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This value increased dramatically to Rs 2,900 per sq.ft in 2012, reflecting a rise of 383%. However, the value then decreased to Rs 1,943 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 2,900 per sq.ft, followed by the latest increase to Rs 3,190 per sq.ft in 2024, marking a rise of 10%.

Overall, from 2007 to 2024, the guideline value has increased by 432%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median of Rs 3,520 per sq.ft. Thirumoorthy Nagar's current value is below this median.

• Thiripura Sundari Avenue: Rs 3,520 per sq.ft (2024)
• Thiruvenkatam Nagar: Rs 3,520 per sq.ft (2024)
• Subbaiha Nagar: Rs 3,190 per sq.ft (2024)
• St. Thomas School Street: Rs 3,190 per sq.ft (2024)
• Sri Venkateswara Nagar / Annuxe: Rs 3,190 per sq.ft (2024)
• Vasuki Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumoorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumoorthy Nagar?

The Sub Registrar Office that covers Thirumoorthy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Madanandapuram. It serves as a benchmark for determining the minimum value of a property transaction, ensuring that the registration process reflects a fair valuation based on current market conditions.

During the registration process, the guideline value is used to calculate the 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 that the transaction is officially recorded at an appropriate value.

Frequently asked questions

What is the current guideline value of Thirumoorthy Nagar?

The current guideline value of Thirumoorthy Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, with various revisions in between reflecting both increases and decreases.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram is Rs 3,520 per sq.ft, with Thirumoorthy Nagar's value being below this median.

What are the stamp duty and registration fees for properties in Thirumoorthy Nagar?

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Where is the Sub Registrar Office located for Thirumoorthy Nagar?

The Sub Registrar Office for Thirumoorthy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.