Guideline Value for Thirupathi Nagar

Thirupathi Nagar guideline value

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

How the guideline value of Thirupathi Nagar has changed

The guideline value for Thirupathi Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 300 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 201 per sq.ft. Following this, the value increased significantly to Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

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 remained unchanged at Rs 300 per sq.ft.

Guideline values in Salamangalam

In Salamangalam village, there are 59 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value in this area is Rs 500 per sq.ft, placing Thirupathi Nagar's 2024 figure below that median.

• Theradi street: Rs 400 per sq.ft (2024)
• TVS Emerald Flourish: Rs 1,850 per sq.ft (2024)
• Tvs Emerald Flourish Phase-III: Rs 3,100 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 700 per sq.ft (2024)
• Subam Enclave: Rs 400 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor in property transactions in Salamangalam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

At the time of registration, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions in 2023 and 2024 both maintaining the value at Rs 300 per sq.ft. The value decreased to Rs 201 per sq.ft in 2017 from Rs 300 per sq.ft in 2012, marking a significant shift before returning to Rs 300 per sq.ft.

What are the stamp duty and registration fees for property in Thirupathi Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Thirupathi Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Thirupathi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, which affects the stamp duty and registration fees. It ensures that these costs are standardized and reflect the value of the property being sold or purchased.