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Guideline Value

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Guideline Value for THIRUVALLUVAR NAGAR 1ST STREET

₹4400/sq.ft.

The guideline value for Thiruvalluvar Nagar 1st Street in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹198 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹177 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thiruvalluvar Nagar 1st Street

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Thiruvalluvar Nagar 1st Street guideline value

The current guideline value of Thiruvalluvar Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

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

The guideline value for Thiruvalluvar Nagar 1st Street has seen significant changes over the years. In 2002, the value was Rs 177 per sq.ft, which increased to Rs 198 per sq.ft in 2003. The value then rose sharply by 405% to Rs 1,000 per sq.ft in 2007. Following this, there was a substantial increase of 300%, bringing the value to Rs 4,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The value then increased by 49% to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2386%. There are no revisions in the register for years other than those mentioned above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Thiruvalluvar Nagar 1st Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 1st Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 177 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 2386% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Thiruvalluvar Nagar 1st Street?

The Neelankarai Sub Registrar Office handles property registrations for Thiruvalluvar Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Thiruvalluvar Nagar 1st Street is classified as Residential Class I Type - II.