Guideline Value for Thirumular Nagar

Thirumular Nagar guideline value

The current guideline value of Thirumular Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in the village of Pillaippakkam-A under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Thirumular Nagar has changed

The guideline value for Thirumular Nagar has undergone several revisions since 2017. In the 2017 revision, the value was set at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 400 per sq.ft. The most recent 2024 revision maintained this value at Rs 400 per sq.ft, indicating no change from the previous year. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a 49% increase, reflecting stability in the latest revisions.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Thirumular Nagar's 2024 figure above this median.

• Thiripurasundari Nagar: Rs 400 per sq.ft (2024)
• Thiruvarangan Nagar: Rs 200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sri Ramanujar Town: Rs 300 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 300 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumular Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, the total cost for stamp duty and registration fee would be Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirumular Nagar?

The Thirumular Nagar area falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value is a crucial factor when buying or selling property in Pillaippakkam-A, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers should be aware that the guideline value serves as a reference point for property transactions, ensuring that the government receives appropriate revenue from property sales.

When a property is registered, the guideline value is assessed to calculate the applicable duties. It is essential for both buyers and sellers to understand that the higher of the guideline value or the sale price will be used to determine the final cost of stamp duty.

Frequently asked questions

What is the current guideline value of Thirumular Nagar?

The current guideline value of Thirumular Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, remaining stable at Rs 400 per sq.ft from 2023 to 2024. There were no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Thirumular Nagar?

The land classification for Thirumular Nagar is Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Thirumular Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirumular Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 28,000, with additional registration fees applicable.