Guideline Value for THIRUVALLUVAR KOVIL STREET

Thiruvalluvar Kovil Street guideline value

The current guideline value of Thiruvalluvar Kovil Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Thiruvalluvar Kovil Street has changed

The guideline value for Thiruvalluvar Kovil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,100 per sq.ft, which was then reduced to Rs 2,077 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,100 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, indicating that Thiruvalluvar Kovil Street's 2024 guideline value is below this median.

• Thiruvalleswarar Colony (Kovil Land): Rs 3,400 per sq.ft (2024)
• Thirumagal Colony: Rs 8,200 per sq.ft (2024)
• Thiruganasambanthar Street (Kovil Land): Rs 2,500 per sq.ft (2024)
• T.M.P.Nagar: Rs 2,800 per sq.ft (2024)
• THANTHOONIAMMAN KOIL STREET (Kovil Land): Rs 3,400 per sq.ft (2024)
• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees together to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations based on your property transaction.

Which Sub Registrar Office covers Thiruvalluvar Kovil Street?

The Sub Registrar Office that covers Thiruvalluvar Kovil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Padi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Kovil Street?

The current guideline value of Thiruvalluvar Kovil Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, marking a 10% increase. The value was Rs 2,077 per sq.ft in 2017, which shows a 49% increase from that year to 2023.

What is the land classification for Thiruvalluvar Kovil Street?

Thiruvalluvar Kovil Street is classified as Residential Class IV Type - II. This classification is important for understanding the zoning and permissible uses of the land.

What are the stamp duty rates for properties in Thiruvalluvar Kovil Street?

The stamp duty for properties in Thiruvalluvar Kovil Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. Registration fees are charged at a rate of 2% of the guideline value.

Where can I find the Sub Registrar Office for Thiruvalluvar Kovil Street?

The Sub Registrar Office for Thiruvalluvar Kovil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all registrations for properties in the area.