Guideline Value for THIRUVALLUVAR NAGAR 47TH CROSS STREET

Thiruvalluvar Nagar 47th Cross Street guideline value

The current guideline value for Thiruvalluvar Nagar 47th 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 47th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 47th Cross Street has seen significant changes 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 an 11% rise. The value then rose to Rs 1,800 per sq.ft in 2007, which was a substantial increase of 44%. Following this, the value surged to Rs 6,500 per sq.ft in 2012, reflecting a remarkable 261% increase. However, between 2012 and 2017, the value dropped to Rs 4,355 per sq.ft, a decrease of 33%. The value then climbed to Rs 6,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 7,150 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall increase from 2002 to 2024 is 534%.

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, with a median value of Rs 9,900 per sq.ft. The guideline value for Thiruvalluvar Nagar 47th Cross Street is below this median.

• Thiruvalluvar Nagar 46th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 48th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 45th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 49th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 44th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 43rd Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 47th 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 would be 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, making the total Rs 6,43,500. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 47th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 47th 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 an important factor when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, it is essential to refer to the guideline value to understand the financial implications involved. This value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant for property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 47th Cross Street?

The current guideline value for Thiruvalluvar Nagar 47th 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%.

What is the land classification for Thiruvalluvar Nagar 47th Cross Street?

The land classification for Thiruvalluvar Nagar 47th Cross Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Thiruvalluvar Nagar 47th 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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 5,00,500.