Guideline Value for Thiruppathi Nagar

Thiruppathi Nagar guideline value

The current guideline value of Thiruppathi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Erumaiyur village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Thiruppathi Nagar has changed

The guideline value for Thiruppathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision and further rose to Rs 550 per sq.ft in the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

Between the revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Erumaiyur

In Erumaiyur, there are 21 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 940 per sq.ft, placing Thiruppathi Nagar's 2024 figure below this median.

• Tambaram Somangalam Road (Royal Enclave): Rs 2,200 per sq.ft (2024)
• Tambaram - Pazhanthandalam Road: Rs 550 per sq.ft (2024)
• Sri Varadhapuri Nagar: Rs 940 per sq.ft (2024)
• Venkateshwara Nagar: Rs 940 per sq.ft (2024)
• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sobha Blossom: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruppathi Nagar?

The Thiruppathi Nagar area falls under 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 Erumaiyur

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

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar?

The current guideline value of Thiruppathi 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 from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value for streets in Erumaiyur?

The median guideline value for the 21 streets in Erumaiyur under the Padappai SRO is Rs 940 per sq.ft.

What are the stamp duty rates for property in Thiruppathi Nagar?

The stamp duty for property in Thiruppathi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

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

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