Guideline Value for Thiruppathi Nagar Extn

Thiruppathi Nagar Extn guideline value

The current guideline value for Thiruppathi Nagar Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this region is Residential Special Type - II.

How the guideline value of Thiruppathi Nagar Extn has changed

The guideline value for Thiruppathi Nagar Extn has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%, while the decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as that for Thiruppathi Nagar Extn.

• Thirupathy Nagar: 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 Thiruppathi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, which totals Rs 1,15,500, and the registration fee at 2% amounts to Rs 33,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Thiruppathi Nagar Extn?

The Sub Registrar Office that covers Thiruppathi Nagar Extn 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Varadarajapuram. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value is used to assess the official value of the property. This ensures that the correct amount of stamp duty is collected based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar Extn?

The current guideline value of Thiruppathi Nagar Extn 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 several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Thiruppathi Nagar Extn?

The land classification for Thiruppathi Nagar Extn is Residential Special Type - II.

Where can I find the Sub Registrar Office for Thiruppathi Nagar Extn?

The Sub Registrar Office for Thiruppathi Nagar Extn is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Thiruppathi Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,15,500.