Guideline Value for THIRUVALLUVAR NAGAR 3RD AVENUE

Thiruvalluvar Nagar 3rd Avenue guideline value

The current guideline value of Thiruvalluvar Nagar 3rd Avenue is Rs 8,250 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 II Type - I.

How the guideline value of Thiruvalluvar Nagar 3rd Avenue has changed

The guideline value for Thiruvalluvar Nagar 3rd Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 1,127 per sq.ft. This increased to Rs 1,247 per sq.ft in 2003, marking a change of +11%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which was a significant increase of +44%. In 2012, the value was Rs 7,500 per sq.ft, reflecting a large jump of +317% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 5,025 per sq.ft, a drop of -33%. The next revision in 2023 set the value at Rs 7,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 8,250 per sq.ft, a rise of +10% from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a guideline value range 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, indicating that the 2024 figure for Thiruvalluvar Nagar 3rd Avenue is below this median.

• Thiruvalluvar Nagar 39th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 38th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 37th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 36th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 33rd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 3rd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 3rd Avenue?

The Sub Registrar Office that covers Thiruvalluvar Nagar 3rd Avenue 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 details.

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

The guideline value is a crucial factor in 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 during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 3rd Avenue?

The current guideline value of Thiruvalluvar Nagar 3rd Avenue is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase being +10% from Rs 7,500 per sq.ft in 2023 to Rs 8,250 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Nagar 3rd Avenue?

The land classification for Thiruvalluvar Nagar 3rd Avenue is Residential Class II Type - I.

Where can I find the registration office for Thiruvalluvar Nagar 3rd Avenue?

The registration office for Thiruvalluvar Nagar 3rd Avenue 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.

How is stamp duty calculated for properties in Thiruvalluvar Nagar 3rd Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 82,50,000 would incur a stamp duty of Rs 5,77,500 at a rate of 7%.