Guideline Value for Thirupathi Nagar

Thirupathi Nagar guideline value

The current guideline value of Thirupathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Maakaanyam village, under the Sriperumpudur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Thirupathi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft, where it has remained through the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for Thirupathi Nagar. The current guideline value of Rs 500 per sq.ft reflects no overall change from 2012 to 2024.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft, with a median of Rs 250 per sq.ft. Thirupathi Nagar's 2024 figure of Rs 500 per sq.ft is above this median.

• Udaiyar Street: Rs 150 per sq.ft (2024)
• Vasanthpuram: Rs 250 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 300 per sq.ft (2024)
• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)
• Sri Padmanaba Samy Nagar: Rs 600 per sq.ft (2024)
• Sri Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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?

The Sub Registrar Office that covers Thirupathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Maakaanyam, as it determines the minimum value at which a property can be registered. Buyers must consider this value when negotiating prices, as it affects the stamp duty and registration fees payable during the transaction.

When selling property, the guideline value ensures that the sale price is aligned with the official valuation, which helps in maintaining transparency in property transactions. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar?

The current guideline value of Thirupathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Thirupathi Nagar has seen various revisions, with the most recent being Rs 500 per sq.ft in 2024, unchanged from 2023. The value was Rs 335 per sq.ft in 2017, reflecting a 49% increase from that year to 2023.

What is the land classification for Thirupathi Nagar?

Thirupathi Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

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

How is stamp duty calculated for properties in Thirupathi Nagar?

Stamp duty for properties in Thirupathi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 500 per sq.ft would incur a total stamp duty of Rs 35,000 and a registration fee of Rs 10,000.