Guideline Value for Thirumurugan Nagar

Thirumurugan Nagar guideline value

The current guideline value of Thirumurugan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This locality is situated in Panapakkam village under the Padappai SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Thirumurugan Nagar has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 700 per sq.ft in the 2023 revision, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Thirumurugan Nagar.

• Thiruchendhur Garden II: Rs 770 per sq.ft (2024)
• Thiruchendhur Garden: Rs 660 per sq.ft (2024)
• Thanigai Nagar: Rs 770 per sq.ft (2024)
• Vadapalani Murugan Nagar: Rs 770 per sq.ft (2024)
• Sri Vadapalani Murugan Nagar: Rs 770 per sq.ft (2024)
• Sri Sai Garden: Rs 880 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumurugan Nagar?

The Sub Registrar Office that covers Thirumurugan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the property's value. This helps maintain transparency and standardization in 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 700 in 2012 to Rs 469 in 2017, then to Rs 700 in 2023, and finally to Rs 770 in 2024. This reflects significant fluctuations in value over the years.

What is the land classification for Thirumurugan Nagar?

Thirumurugan Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.

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

The Padappai Sub Registrar Office, which covers Thirumurugan Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumurugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.