Guideline Value for Thirumudivakkam Road

Thirumudivakkam Road guideline value

The current guideline value of Thirumudivakkam Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Thirumudivakkam village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Thirumudivakkam Road has changed

The guideline value for Thirumudivakkam Road has seen several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft. The guideline value for Thirumudivakkam Road is equal to the median value of Rs 1,320 per sq.ft. Below are the guideline values for other streets in Thirumudivakkam:

• Thai Thillai Nagar: Rs 660 per sq.ft (2024)
• Swagatham Nagar: Rs 660 per sq.ft (2024)
• Subhalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Vasantham Nagar: Rs 660 per sq.ft (2024)
• Velayudham Nagar: Rs 1,320 per sq.ft (2024)
• Srinivasa Garden: Rs 3,210 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumudivakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the 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 Thirumudivakkam Road?

The Thirumudivakkam Road 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumudivakkam. It serves as the baseline value for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value must be adhered to during registration. This means that the buyer and seller must consider this value when determining the sale price, as the stamp duty is calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Thirumudivakkam Road?

The current guideline value of Thirumudivakkam Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft, which is an overall increase of 64%.

What was the guideline value in 2023?

The guideline value for Thirumudivakkam Road in 2023 was Rs 1,200 per sq.ft.

Which Sub Registrar Office should I approach for transactions in Thirumudivakkam?

The Padappai Sub Registrar Office covers transactions in Thirumudivakkam. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Thirumudivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400 at a rate of 7%.