Guideline Value for Thirupathy Nagar

Thirupathy Nagar guideline value

The current guideline value of Thirupathy Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - II.

How the guideline value of Thirupathy Nagar has changed

Over the years, the guideline value of Thirupathy Nagar has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 120 per sq.ft. This increased dramatically to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 1,150%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, which was an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 1,275%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with the 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Thirupathy Nagar.

• Thiruppathi Nagar Extn: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 1,650 per sq.ft (2024)
• The Madras Avenue: Rs 3,000 per sq.ft (2024)
• The Lotus Phase-I, II: Rs 1,650 per sq.ft (2024)
• Thowbik Nagar: Rs 990 per sq.ft (2024)
• Tansi puram: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must ensure that the transaction value is aligned with the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from the transaction, based on the established guideline value for the specific area.

Frequently asked questions

What is the current guideline value of Thirupathy Nagar?

The current guideline value of Thirupathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 120 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 1,275%.

What are the other streets in Varadarajapuram with similar guideline values?

Other streets in Varadarajapuram with a guideline value of Rs 1,650 per sq.ft include Thiruppathi Nagar Extn, Thiruvalluvar Nagar, The Lotus Phase-I, II, and Tansi puram.

What is the stamp duty for property in Thirupathy Nagar?

The stamp duty for property in Thirupathy Nagar is 7% of the guideline value. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Where is the Sub Registrar Office located for Thirupathy Nagar?

The Padappai Sub Registrar Office, which covers Thirupathy Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.