Guideline Value for Thiruppathi Nagar

Thiruppathi Nagar guideline value

The current guideline value of Thiruppathi Nagar, located in Moonramkattalai village under the Kunrathur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thiruppathi Nagar has changed

The guideline value for Thiruppathi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 250 per sq.ft. This value increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 260%. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 900 per sq.ft in 2023, followed by the most recent increase to Rs 1,000 per sq.ft in 2024, which is an 11% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The changes between the revisions reflect fluctuations in the guideline value, with the most substantial increase occurring from 2012 to 2017, and a notable rise from 2023 to 2024.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft. The median value for these streets is Rs 650 per sq.ft, placing Thiruppathi Nagar's 2024 figure above that median.

• Thirupathi Nagar 3rd Street: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar 2nd Street: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar 1st Street: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 650 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,350 per sq.ft (2024)
• Sultan House Ist Santhu: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruppathi Nagar?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Moonramkattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar?

The current guideline value of Thiruppathi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the guideline values of other streets in Moonramkattalai?

Other streets in Moonramkattalai have varying guideline values, ranging from Rs 650 to Rs 1,350 per sq.ft, with several streets, including Thirupathi Nagar, valued at Rs 1,000 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

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

The Sub Registrar Office for Thiruppathi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information online.