Guideline Value for Thirumurugan Nagar

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thirumurugan Nagar has changed

The guideline value for Thirumurugan Nagar has seen several revisions over the years. Starting from Rs 133 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a significant rise of 351%. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until the 2023 revision, which also kept the value at Rs 3,000 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the guideline value has grown from Rs 133 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, an overall increase of 2381%. Notably, there are no figures available for the years 2017 and 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, placing Thirumurugan Nagar's 2024 figure at this median level.

• Thirumurugan Nagar 2nd Cross St.: Rs 3,300 per sq.ft (2024)
• Thirumurugan Street: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Road: Rs 3,850 per sq.ft (2024)
• Thirupathi Nagar: Rs 3,300 per sq.ft (2024)
• Thiruppur Kumaran Street (Near Somasundaram Street): Rs 2,750 per sq.ft (2024)
• Thiruppur Kumaran Street (Radha Nagar Main Road Southside): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Thirumurugan Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Zaminpallavaram, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for assessing property transactions within the region.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

The current guideline value of Thirumurugan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 133 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2381% over the years.

What are the stamp duty and registration fees in Thirumurugan Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Thirumurugan Nagar?

The Pallavaram Sub Registrar Office handles registrations for Thirumurugan Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.