Guideline Value for Thirumuruga Variyar Nagar

Thirumuruga Variyar Nagar guideline value

The current guideline value of Thirumuruga Variyar Nagar is Rs 410 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirumuruga Variyar Nagar has changed

The guideline value for Thirumuruga Variyar Nagar has seen several revisions over the years. In 2007, the value was set at Rs 60 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this figure dropped to Rs 268 per sq.ft in 2017. The value then rose to Rs 400 per sq.ft in 2023, and currently stands at Rs 410 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 583%. Notably, the value jumped by 567% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The most recent increase from 2023 to 2024 is 3%, while the value rose by 49% from 2017 to 2023.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Thirumuruga Variyar Nagar's 2024 figure above that median.

• Thideer Nagar Cross Street: Rs 150 per sq.ft (2024)
• Thideer Nagar 1st Street: Rs 200 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 601 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumuruga Variyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 410 per sq.ft, the total guideline value would be Rs 4,10,000. The stamp duty at 7% would be Rs 28,700, and the registration fee at 2% would be Rs 8,200, summing up to a total of Rs 36,900. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumuruga Variyar Nagar?

The Sub Registrar Office that covers Thirumuruga Variyar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions comply with the regulations set by the Registration Department.

When a property is sold, the buyer and seller must consider the guideline value to understand the financial implications of the transaction. This value serves as a benchmark for both parties, helping to facilitate a transparent and fair registration process.

Frequently asked questions

What is the current guideline value of Thirumuruga Variyar Nagar?

The current guideline value of Thirumuruga Variyar Nagar is Rs 410 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 60 per sq.ft in 2007 to Rs 410 per sq.ft in 2024, marking an overall increase of 583% over the years.

What is the registration office for Thirumuruga Variyar Nagar?

The registration office for Thirumuruga Variyar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thirumuruga Variyar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 410 per sq.ft would incur a stamp duty of Rs 28,700.

What are the guideline values for other streets in Vallam?

Other streets in Vallam have varying guideline values, with rates ranging from Rs 150 to Rs 1,950 per sq.ft. The median value for these streets is Rs 200 per sq.ft.