Guideline Value for Thirumurugan Nagar

Thirumurugan Nagar guideline value

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

How the guideline value of Thirumurugan Nagar has changed

The guideline value for Thirumurugan Nagar has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. In 2017, this value was revised down to Rs 804 per sq.ft, marking a decrease of 33%. However, from 2017 to 2024, the guideline value saw a significant increase of 62%, resulting in the current value of Rs 1,300 per sq.ft.

There are no recorded figures for the revisions in 2023, 2007, 2003, and 2002 for this street. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Thirumurugan Nagar's current figure below this median.

• Thirumurugan 2nd Street (Ward 10): Rs 1,300 per sq.ft (2024)
• Thirumurugan 1st Street (Ward 10): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar Road (Ward No.10): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Thirumangalam Nagar (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Thirumal Nagar (Vinayagapuram): Rs 1,600 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Sub Registrar Office covering Thirumurugan Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is referenced to calculate the applicable charges. This ensures that the registration process is transparent and standardized across different properties within the Madhavaram area.

Frequently asked questions

What is the current guideline value of Thirumurugan Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

What is the land classification for Thirumurugan Nagar?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

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

The Sub Registrar Office for Thirumurugan Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about it online.