Guideline Value for Thirupathi Nagar 1st Street

Thirupathi Nagar 1st Street guideline value

The current guideline value of Thirupathi Nagar 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Moonramkattalai village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Thirupathi Nagar 1st Street has changed

The guideline value for Thirupathi Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 900 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 603 per sq.ft. However, the value saw a significant increase in the 2023 revision, rising to Rs 900 per sq.ft, and then further increased to Rs 1,000 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 11%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 650 to Rs 2,750 per sq.ft. The median guideline value is Rs 650 per sq.ft, placing Thirupathi Nagar 1st Street's 2024 figure above that median.

• Thirupathi Nagar 2nd Street: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar 3rd Street: Rs 1,000 per sq.ft (2024)
• Thiruppathi Nagar: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 650 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,350 per sq.ft (2024)
• Sultan House Ist Santhu: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirupathi Nagar 1st Street?

The Sub Registrar Office that covers Thirupathi Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Moonramkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar 1st Street?

The current guideline value of Thirupathi Nagar 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 1,000 per sq.ft in 2024.

What is the land classification for Thirupathi Nagar 1st Street?

The land classification for Thirupathi Nagar 1st Street is Residential Special Type - II.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Thirupathi Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.