Guideline Value for Thirupathy Nagar

Thirupathy Nagar guideline value

The current guideline value of Thirupathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Thirupathy Nagar has changed

The guideline value for Thirupathy Nagar has seen several revisions over the years. The 2017 revision set the guideline value at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 further increased the value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Thirupathy Nagar's 2024 figure above this median.

• Thiruvalluvar City I: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar City II: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar City III: Rs 2,200 per sq.ft (2024)
• Therkku Theru (West Street): Rs 1,540 per sq.ft (2024)
• Thiruvenkadam Avenue: Rs 1,320 per sq.ft (2024)
• Then Colony Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. It is important to note that the 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 Thirupathy Nagar?

The Sub Registrar Office that covers Thirupathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor during the registration of property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirupathy Nagar?

The current guideline value of Thirupathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This shows an overall increase of 64% from 2017 to 2024.

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

The stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 1,78,200.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Thirupathy Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and previous revisions. It is periodically updated to reflect changes in the real estate market.