Guideline Value for THIRUVALLUVAR NAGAR 1ST AVENUE

Thiruvalluvar Nagar 1st Avenue guideline value

The current guideline value of Thiruvalluvar Nagar 1st Avenue is Rs 8,250 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 for this area is Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 1st Avenue has changed

The guideline value for Thiruvalluvar Nagar 1st Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 2,200 per sq.ft. This figure increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 241%. However, by 2017, the value dropped to Rs 5,025 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 7,500 per sq.ft in 2023, a 49% increase from the previous revision. The current guideline value is Rs 8,250 per sq.ft as of the 2024 revision, which is a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Thiruvalluvar Nagar 1st Avenue is below this median.

• Thiruvalluvar Nagar 19th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 18th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 17th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Main Road: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 16th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 1st Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, totaling Rs 7,42,500. 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 1st Avenue?

The Thiruvalluvar Nagar 1st Avenue is covered by 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. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in a legal context. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price, which can impact the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 1st Avenue?

The current guideline value of Thiruvalluvar Nagar 1st Avenue is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,200 per sq.ft to Rs 8,250 per sq.ft in 2024, which is an overall increase of 275%.

What is the land classification for Thiruvalluvar Nagar 1st Avenue?

The land classification for Thiruvalluvar Nagar 1st Avenue is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Which office handles the registration for Thiruvalluvar Nagar 1st Avenue?

The registration for Thiruvalluvar Nagar 1st Avenue is handled by 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.