Guideline Value for Thirupathi Nagar

Thirupathi Nagar guideline value

The current guideline value of Thirupathi Nagar, located in Perungavur village under the Redhills SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Thirupathi Nagar has changed

The guideline value for Thirupathi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 134 per sq.ft, representing a decrease of 33%. The value then rose significantly to Rs 200 per sq.ft in 2023, followed by another increase to Rs 220 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 275 per sq.ft. Thirupathi Nagar’s 2024 guideline value is below this median.

• Thirupathi Nagar Annex: Rs 220 per sq.ft (2024)
• Thirumalai Nagar Annex: Rs 275 per sq.ft (2024)
• Thirumalai Nagar: Rs 275 per sq.ft (2024)
• Thiruvalluvar Street: Rs 385 per sq.ft (2024)
• T.S. Ranga Rajan Nagar: Rs 275 per sq.ft (2024)
• Super Luck City Annex: Rs 385 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty is charged at 7%, which totals Rs 15,400, while the registration fee is 2%, amounting to Rs 4,400. Together, the total cost for stamp duty and registration fee is Rs 19,800. 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 detailed calculations.

Which Sub Registrar Office covers Thirupathi Nagar?

The Sub Registrar Office that covers Thirupathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungavur. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair and standardized rate. This process is essential for maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar?

The current guideline value of Thirupathi Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the land classification for Thirupathi Nagar?

Thirupathi Nagar is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Thirupathi Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400.