Guideline Value for Thirupathi Nagar Road

Thirupathi Nagar Road guideline value

The current guideline value of Thirupathi Nagar Road is Rs 3,550 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thirupathi Nagar Road has changed

Over the years, the guideline value for Thirupathi Nagar Road has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,200 per sq.ft, which was then reduced to Rs 2,144 per sq.ft in the 2017 revision. This change represented a decrease of 33%. However, the subsequent 2023 revision increased the guideline value to Rs 3,200 per sq.ft, followed by a further increase to Rs 3,550 per sq.ft in the 2024 revision, marking an 11% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Looking at the overall change from 2012 to 2024, the guideline value has increased by 11%, from Rs 3,200 per sq.ft in 2012 to Rs 3,550 per sq.ft in 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, making the guideline value of Thirupathi Nagar Road above this median.

• Thirumalai Nagar Main Road: Rs 3,550 per sq.ft (2024)
• Thirumalainagar Extn: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar 1 to 6 Street: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar: Rs 3,550 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 5,500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Nagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value would be Rs 35,50,000. The stamp duty at 7% would amount to Rs 2,48,500, while the registration fee at 2% would be Rs 71,000. Together, the total cost for stamp duty and registration would be Rs 3,19,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirupathi Nagar Road?

The Sub Registrar Office that covers Thirupathi Nagar Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that transactions are conducted transparently and in compliance with the legal requirements set forth by the government.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar Road?

The current guideline value of Thirupathi Nagar Road is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,550 per sq.ft in 2024.

What is the land classification for Thirupathi Nagar Road?

Thirupathi Nagar Road is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Thirupathi Nagar Road?

The Sub Registrar Office for Thirupathi Nagar Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Thirupathi Nagar Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 35,50,000, the stamp duty at 7% would be Rs 2,48,500.