Guideline Value for THIRUVALLUVAR NAGAR 2 ND STREET

Thiruvalluvar Nagar 2 Nd Street guideline value

The current guideline value of Thiruvalluvar Nagar 2 Nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 2 Nd Street has changed

The guideline value for Thiruvalluvar Nagar 2 Nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, there have been significant changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Thiruvalluvar Nagar 2 Nd Street.

• Thiruvalluvar Nagar 3 Rd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Nagar 1 St Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Nagar 4 Th Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Thiru VI Ka Nagar: Rs 2,200 per sq.ft (2024)
• Theradi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 2 Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 2 Nd Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 2 Nd 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 Okkiyamthuraipakkam

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a critical factor in determining the registration fees and stamp duty. This value serves as a benchmark for the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 2 Nd Street?

The current guideline value of Thiruvalluvar Nagar 2 Nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Nagar 2 Nd Street?

The land classification for Thiruvalluvar Nagar 2 Nd Street is Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Thiruvalluvar Nagar 2 Nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.