Guideline Value for Thirumurugan Nagar

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This locality is situated in Mannoor village, under the jurisdiction of the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thirumurugan Nagar has changed

Over the years, the guideline value for Thirumurugan Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. Following this, the 2023 revision restored the value back to Rs 200 per sq.ft, and the same value has been maintained in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Thirumurugan Nagar's 2024 figure below the median.

• Thiru Nagar: Rs 250 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)
• Tharani Grand: Rs 500 per sq.ft (2024)
• Udhaya Dinesh Nagar: Rs 200 per sq.ft (2024)
• Vairavar Nagar: Rs 200 per sq.ft (2024)
• Veeralaxmi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumurugan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 more details.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Thirumurugan Nagar area is covered by 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 Mannoor

The guideline value plays a crucial role in property transactions in Mannoor, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements. This value is also significant for financial planning, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

The current guideline value of Thirumurugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has seen fluctuations, with a drop in 2017 to Rs 134 per sq.ft, followed by a restoration to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Thirumurugan Nagar?

Thirumurugan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the registration fees for property transactions?

Registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 and a registration fee of Rs 4,000.

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

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