Guideline Value for THIRUVALLUVAR NAGAR 1ST MAIN ROAD

Thiruvalluvar Nagar 1st Main Road guideline value

The current guideline value of Thiruvalluvar Nagar 1st Main Road 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 Main Road has changed

The guideline value for Thiruvalluvar Nagar 1st Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 1,516 per sq.ft. This value increased to Rs 1,677 per sq.ft in 2003, marking a rise of 11%. The value then saw a modest increase to Rs 1,800 per sq.ft in 2007, an increase of 7%. A significant jump occurred in 2012 when the guideline value rose to Rs 7,500 per sq.ft, reflecting a substantial increase of 317%. However, this was followed by a decrease to Rs 5,025 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 7,500 per sq.ft in 2023, before reaching the current rate of Rs 8,250 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 444%. The register has no figures for the years not mentioned in this summary.

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, indicating that Thiruvalluvar Nagar 1st Main Road's current figure is below this median.

• Thiruvalluvar Nagar 1st Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Avenue: 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 Main Road

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

Which Sub Registrar Office covers Thiruvalluvar Nagar 1st Main Road?

The Sub Registrar Office that covers Thiruvalluvar Nagar 1st Main Road 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 is a crucial factor during the registration process when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Nagar 1st Main Road is Rs 8,250 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 1,516 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 444% over the years.

What is the median guideline value in Thiruvanmiyur?

The median guideline value for the 484 streets in Thiruvanmiyur under the Chennai South Joint I SRO is Rs 9,900 per sq.ft, which is above the current value of Thiruvalluvar Nagar 1st Main Road.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Thiruvalluvar Nagar 1st Main Road?

The Sub Registrar Office for Thiruvalluvar Nagar 1st Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.