Guideline Value for THIRUVALLUVAR NAGAR 16TH CROSS STREET

Thiruvalluvar Nagar 16th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 16th Cross Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification is Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Nagar 16th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 16th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,127 per sq.ft. It increased to Rs 1,247 per sq.ft in 2003, marking an 11% rise. By 2007, the value further increased to Rs 1,800 per sq.ft, which was a 44% increase from the previous figure. The 2012 revision saw the value drop to Rs 6,500 per sq.ft, a decrease of 261% from 2007. In 2017, the value rose again to Rs 4,355 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 6,500 per sq.ft, and finally, the current 2024 revision has established it at Rs 7,150 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 534%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, placing Thiruvalluvar Nagar 16th Cross Street's 2024 figure below that median.

• Thiruvalluvar Nagar 17th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 15th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 18th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 19th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Avenue: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 14th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 16th Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 71,50,000. The stamp duty at 7% amounts to Rs 5,00,500, while the registration fee at 2% is Rs 1,43,000. Together, these fees total Rs 6,43,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar 16th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 16th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. 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 buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 16th Cross Street?

The current guideline value for Thiruvalluvar Nagar 16th Cross Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,127 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 534%.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, with Thiruvalluvar Nagar 16th Cross Street's value being below this median.

What are the stamp duty and registration fees for a property in Thiruvalluvar Nagar 16th Cross Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 6,43,500, based on the current guideline value.

Which office handles registrations for Thiruvalluvar Nagar 16th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Thiruvalluvar Nagar 16th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.