Guideline Value for Thirupathi Nagar

Thirupathi Nagar guideline value

The current guideline value of Thirupathi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vilangadupakkam village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thirupathi Nagar has changed

The guideline value for Thirupathi Nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 32 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2007, marking a change of +838%. The 2012 revision saw a decrease to Rs 500 per sq.ft, a drop of -33%. In 2017, the value rose to Rs 335 per sq.ft, and then increased to Rs 500 per sq.ft in 2023, reflecting a +49% change. The latest revision in 2024 set the value at Rs 550 per sq.ft, an increase of +10% from the previous year.

It is important to note that there is no figure available for Thirupathi Nagar in the 2002 revision. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1619%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing Thirupathi Nagar's 2024 figure above this median.

• Thiruppathi Nagar Extn.: Rs 770 per sq.ft (2024)
• Thirumathi Sonia New Extention: Rs 440 per sq.ft (2024)
• Thirumathi. Sonia Avenue: Rs 440 per sq.ft (2024)
• Thirumagal Nagar: Rs 480 per sq.ft (2024)
• Thanjai Sengunthar Nagar: Rs 440 per sq.ft (2024)
• Thanjai Nagar Extention: Rs 440 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is essential to note that the duty is charged on the higher of the guideline value and 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 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 Vilangadupakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value helps establish the minimum value on which the stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the locality.

Frequently asked questions

What is the current guideline value of Thirupathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 32 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of +1619% over this period.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which Sub Registrar Office is responsible for Thirupathi Nagar?

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

What is the land classification for Thirupathi Nagar?

The land classification for Thirupathi Nagar is Residential Class II Type - I, indicating its suitability for residential purposes.