Guideline Value for THIRUVALLUVAR NAGAR 1ST CROSS STREET

Thiruvalluvar Nagar 1st Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 1st 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 for this area is Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Nagar 1st Cross Street has changed

The guideline value for Thiruvalluvar Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 1,127 per sq.ft. This increased to Rs 1,247 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,800 per sq.ft in 2007, reflecting a significant increase of 44%. Following this, the guideline value surged to Rs 6,500 per sq.ft in 2012, a remarkable increase of 261%. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%.

In the subsequent years, the guideline value increased again, reaching Rs 6,500 per sq.ft in 2023, which was a 49% rise from the previous revision. The latest revision in 2024 set the guideline value at Rs 7,150 per sq.ft, representing a 10% increase from 2023. There are no revisions with figures missing for this street.

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 guideline value for these streets is Rs 9,900 per sq.ft, placing Thiruvalluvar Nagar 1st Cross Street's 2024 figure below this median.

• Thiruvalluvar Nagar 1st Avenue: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Main Road: Rs 8,250 per sq.ft (2024)
• 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 17th Cross Street: Rs 7,150 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 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% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the 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 1st Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 1st 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are recorded accurately and transparently.

When buying or selling property, the guideline value is considered the minimum value for taxation purposes. Buyers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Nagar 1st 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% over this period.

What is the land classification for Thiruvalluvar Nagar 1st Cross Street?

The land classification for Thiruvalluvar Nagar 1st Cross Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thiruvalluvar Nagar 1st 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.

How is the stamp duty calculated for properties in Thiruvalluvar Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at 7%.