Guideline Value for Cinema lane

Cinema lane guideline value

The current guideline value of Cinema Lane in Thiruvallur Village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Cinema lane has changed

The guideline value for Cinema Lane has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,500 per sq.ft, followed by the latest revision in 2024, which established the current value at Rs 1,650 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% increase. Notably, from 2007 to 2024, the overall increase amounts to 313%, showcasing a substantial rise in value over the years.

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. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Cinema Lane's 2024 figure above this median.

• Chekkadi Street: Rs 2,200 per sq.ft (2024)
• Bypass Road: Rs 3,300 per sq.ft (2024)
• Dharmalingam Street: Rs 1,100 per sq.ft (2024)
• Dr.ambetkar Street: Rs 770 per sq.ft (2024)
• Bharathiyar Street: Rs 1,100 per sq.ft (2024)
• Dr.M.Varadharasanar Cross St: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Cinema lane

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 at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cinema lane?

The Sub Registrar Office covering Cinema Lane is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvallur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When selling property, the guideline value can influence the sale price, as it provides a reference point for both buyers and sellers. It is important for all parties involved in a transaction to be aware of the current guideline value to ensure compliance with legal and financial obligations.

Frequently asked questions

What is the current guideline value of Cinema Lane?

The current guideline value of Cinema Lane 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 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the stamp duty and registration fees for property in Cinema Lane?

The stamp duty for a property valued at Rs 16,50,000 is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Cinema Lane?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Cinema Lane, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Cinema Lane?

Cinema Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.