Guideline Value for Thirumoorthy Nagar

Thirumoorthy Nagar guideline value

The current guideline value of Thirumoorthy Nagar, located in Nandambakkam village, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Thirumoorthy Nagar has changed

Over the years, the guideline value of Thirumoorthy Nagar has seen significant changes. In the 2007 revision, the guideline value was Rs 45 per sq.ft, which increased dramatically to Rs 700 per sq.ft in the 2012 revision, marking a rise of 1,456%. However, this value saw a decrease of 33% to Rs 469 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 700 per sq.ft, and the most recent 2024 revision has set it at Rs 770 per sq.ft, reflecting a 10% increase.

The overall change from the 2007 revision to the 2024 revision is a substantial increase of 1,611%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Thirumoorthy Nagar's 2024 guideline value is below this median.

• Thirumalai Nagar: Rs 880 per sq.ft (2024)
• Surya Nagar: Rs 1,210 per sq.ft (2024)
• Udhayam Nagar: Rs 720 per sq.ft (2024)
• Sri Vinayaka Avenue (540/4): Rs 990 per sq.ft (2024)
• Sri Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 880 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total cost of Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Thirumoorthy Nagar?

The Thirumoorthy Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nandambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumoorthy Nagar?

The current guideline value of Thirumoorthy Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 45 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 1,611% over the years.

What are the guideline values of other streets in Nandambakkam?

Other streets in Nandambakkam have varying guideline values, with Thirumalai Nagar at Rs 880 per sq.ft, Surya Nagar at Rs 1,210 per sq.ft, and Udhayam Nagar at Rs 720 per sq.ft, among others.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Thirumoorthy Nagar?

The Padappai Sub Registrar Office covers Thirumoorthy Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.