Guideline Value for Thirupugal Nagar

Thirupugal Nagar guideline value

The current guideline value of Thirupugal Nagar, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Thirupugal Nagar has changed

The guideline value for Thirupugal Nagar has seen several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, reflecting an increase of 61% from the previous figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for Thirupugal Nagar. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thirupugal Nagar's guideline value of Rs 2,700 per sq.ft is below this median.

• Thirupathy Nagar North Extension Sri Karpaga Vinayagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupugal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is calculated at 7%, which totals Rs 1,89,000, and the registration fee is 2%, amounting to Rs 54,000. Together, the total cost for stamp duty and registration fee is Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirupugal Nagar?

The Sub Registrar Office that covers Thirupugal Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that all transactions are recorded accurately in the official register.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirupugal Nagar?

The current guideline value of Thirupugal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 900 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 200% from the 2007 figure.

What is the land classification of Thirupugal Nagar?

Thirupugal Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Thirupugal Nagar located?

The Sub Registrar Office for Thirupugal Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.