Guideline Value for Thulasi nagar

Thulasi nagar guideline value

The current guideline value of Thulasi nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thulasi nagar has changed

The guideline value for Thulasi nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value rose sharply to Rs 1,500 per sq.ft in 2023, and finally, it reached Rs 1,650 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall increase in the guideline value is 725%. The most significant change occurred between the 2007 and 2012 revisions, which saw a rise of 650%. The 2023 to 2024 revision reflects a 10% increase, while the 2017 to 2023 revision shows a notable increase of 49%. The change from 2012 to 2017 was a decrease of 33%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Thulasi nagar is above this median, indicating a higher valuation for this street.

• Thomoorar Street: Rs 1,650 per sq.ft (2024)
• T.T.K Street: Rs 1,100 per sq.ft (2024)
• T.V.K Street: Rs 1,100 per sq.ft (2024)
• U.V Saminthaiyyer Street: Rs 1,100 per sq.ft (2024)
• Vaishnavi Nagar: Rs 1,650 per sq.ft (2024)
• Thirumallai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. The total cost for these fees combined would be 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thulasi nagar?

The Sub Registrar Office that covers Thulasi nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruvallur, as it determines the minimum value at which properties must be registered. When buying or selling property, the guideline value helps establish the stamp duty and registration fees that are applicable, ensuring that both parties are aware of the financial obligations involved in the transaction.

Additionally, the guideline value serves as a benchmark for property valuations, aiding in the assessment of fair pricing during negotiations. It is essential for buyers and sellers to be informed of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Thulasi nagar?

The current guideline value of Thulasi 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 from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What are the stamp duty and registration fees for properties in Thulasi nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Thulasi nagar?

The Tiruvallur Joint 1 Sub Registrar Office covers Thulasi nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification of Thulasi nagar?

Thulasi nagar is classified as Residential Class I Type - I, indicating its designation for residential use within the locality.