Guideline Value for THIRUVALLUVAR NAGAR 3RD STREET

Thiruvalluvar Nagar 3rd Street guideline value

The current guideline value of Thiruvalluvar Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

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

Over the years, the guideline value for Thiruvalluvar Nagar 3rd Street has undergone several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has been set at Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, from 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thiruvalluvar Nagar 3rd Street's 2024 figure above this median.

• Thiruvalluvar Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar 7th Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 3rd Street?

The Thiruvalluvar Nagar 3rd Street falls under the jurisdiction of 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 Palavakkam

The guideline value plays a critical role during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 3rd Street?

The current guideline value for Thiruvalluvar Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340%.

What is the stamp duty rate for property in Thiruvalluvar Nagar 3rd Street?

The stamp duty rate for property transactions in Thiruvalluvar Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Thiruvalluvar Nagar 3rd Street?

The Neelankarai Sub Registrar Office handles property registrations for Thiruvalluvar Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the registration fee for property in Thiruvalluvar Nagar 3rd Street?

The registration fee for property transactions in Thiruvalluvar Nagar 3rd Street is 2% of the guideline value or sale price, whichever is higher.