Guideline Value for THIRUVALLUVAR NAGAR 2ND CROSS STREET

Thiruvalluvar Nagar 2nd Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Thiruvalluvar Nagar 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 1,127 per sq.ft, which increased to Rs 1,247 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 44% increase. Following this, the value surged to Rs 6,500 per sq.ft in 2012, showing a remarkable 261% increase. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 6,500 per sq.ft in 2023, before reaching the current rate of Rs 7,150 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 534%. There are no figures available for any revisions prior to 2002 or for any years not mentioned in the register.

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, placing Thiruvalluvar Nagar 2nd Cross Street's 2024 figure below that median.

• Thiruvalluvar Nagar 2nd Avenue: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 29th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 28th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Main Road: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 27th 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 2nd Cross Street

For a 1,000 sq.ft plot at the current rate, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar 2nd Cross Street?

The Sub Registrar Office covering Thiruvalluvar Nagar 2nd 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. 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 in the registration process for property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, impacting the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Nagar 2nd 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 1,127 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 534% over this period.

What is the land classification for Thiruvalluvar Nagar 2nd Cross Street?

The land classification for Thiruvalluvar Nagar 2nd Cross Street is Residential Class IV Type - I, indicating its suitability for residential development.

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.

Which office handles the registration for Thiruvalluvar Nagar 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Thiruvalluvar Nagar 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.