Guideline Value for THIRUVALLUVAR NAGAR 24TH CROSS STREET

Thiruvalluvar Nagar 24th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 24th 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 24th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 24th Cross Street has seen several revisions over the years. In 2002, the value was Rs 1,247 per sq.ft. This figure increased to Rs 1,380 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,800 per sq.ft in 2007, reflecting a 30% increase. By 2012, the value reached Rs 6,500 per sq.ft, which was a significant jump of 261%. However, from 2012 to 2017, the value decreased by 33% to Rs 4,355 per sq.ft. The value then increased to Rs 6,500 per sq.ft in 2023, and currently, it stands at Rs 7,150 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 473%. There are no figures available for the revisions in years other than those listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing Thiruvalluvar Nagar 24th Cross Street's 2024 figure below that median.

• Thiruvalluvar Nagar 23rd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 25th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 22nd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 26th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 21st Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 27th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 24th 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 to Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 24th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 24th 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. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated fairly based on the official value set by the government.

When a buyer and seller agree on a sale price, the registration office will assess the higher of the guideline value or the sale price to determine the applicable stamp duty. 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 24th Cross Street?

The current guideline value of Thiruvalluvar Nagar 24th 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 1,247 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 473% over this period.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, which is higher than the current value of Rs 7,150 per sq.ft for Thiruvalluvar Nagar 24th Cross Street.

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

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500, and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Where can I find the Sub Registrar Office for Thiruvalluvar Nagar 24th Cross Street?

The Sub Registrar Office for Thiruvalluvar Nagar 24th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.