Guideline Value for THIRUVALLUVAR NAGAR 21ST CROSS STREET

Thiruvalluvar Nagar 21st Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 21st 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 21st Cross Street has changed

The guideline value for Thiruvalluvar Nagar 21st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 1,127 per sq.ft. In 2003, it increased to Rs 1,247 per sq.ft, marking an increase of 11%. The value rose significantly in 2007 to Rs 1,800 per sq.ft, reflecting a 44% increase. By 2012, the value was Rs 6,500 per sq.ft, which was a substantial increase of 261%. However, this value dropped to Rs 4,355 per sq.ft in 2017, indicating a decrease of 33%. The 2023 revision brought the value back up to Rs 6,500 per sq.ft, and the latest revision in 2024 set it at Rs 7,150 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 534%. The register has no figures for the revisions in the years not mentioned for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values 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 21st Cross Street's 2024 figure below that median.

• Thiruvalluvar Nagar 20th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 22nd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 23rd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 24th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 25th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 26th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 21st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 6,43,500. 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 more detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 21st Cross Street?

The Thiruvalluvar Nagar 21st Cross Street 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consider the guideline value as it reflects the government's assessment of property worth in the area. This ensures transparency and helps in maintaining a standardized approach to property valuation during registration.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 21st Cross Street?

The current guideline value of Thiruvalluvar Nagar 21st 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 several times, with the most recent increase being from Rs 6,500 per sq.ft in 2023 to Rs 7,150 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Thiruvalluvar Nagar 21st Cross Street?

The land classification for Thiruvalluvar Nagar 21st Cross Street is Residential Class IV Type - I.

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

The Sub Registrar Office covering Thiruvalluvar Nagar 21st Cross Street is 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?

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