Guideline Value for Thirumurugan Nagar

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thirumurugan Nagar has changed

The guideline value for Thirumurugan Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 163 per sq.ft, which increased to Rs 185 per sq.ft in 2003. Following this, the value rose to Rs 260 per sq.ft in 2007, and then to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,980 per sq.ft.

From 2017 to 2023, there was a 49% increase, while the jump from 2007 to 2017 was a remarkable 364%. The value rose by 41% from 2003 to 2007 and by 13% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1115%. It is worth noting that there is no figure available for the year 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a guideline value for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Thirumurugan Nagar's 2024 figure below that median.

• Thirumalaivasan Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Thiruneermalai Main Road, Moovendhar Nagar: Rs 2,200 per sq.ft (2024)
• Thiruneermalai Main Road, Nagelkeni: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Main Road, Thiru Nagar: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Salai/LIC Colony Part: Rs 2,530 per sq.ft (2024)
• Thiruneermalai Salai / Nagalkeni: Rs 3,300 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Sub Registrar Office that covers Thirumurugan Nagar is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for calculating taxes and fees, ensuring that both parties are aware of their financial obligations. It is essential for buyers to verify the guideline value before finalizing any property transactions to avoid any discrepancies.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

The current guideline value of Thirumurugan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 163 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing a significant overall increase of 1115% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft for the year 2024, with Thirumurugan Nagar's value being below this median.

What are the stamp duty rates for property in Thirumurugan Nagar?

The stamp duty rate for property transactions in Thirumurugan Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thirumurugan Nagar located?

The Sub Registrar Office for Thirumurugan Nagar is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.