Guideline Value for THIRUVALLUVAR NAGAR 50TH CROSS STREET

Thiruvalluvar Nagar 50th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 50th Cross Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Thiruvalluvar Nagar 50th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 50th Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 1,127 per sq.ft. It increased to Rs 1,247 per sq.ft in 2003, marking an 11% rise. The value further climbed to Rs 1,800 per sq.ft in 2007, which was a 44% increase. In 2012, the value reached Rs 6,500 per sq.ft, reflecting a significant 261% increase from the previous figure. However, it then decreased to Rs 4,355 per sq.ft in 2017, showing a drop of 33%.

From 2017 to 2023, the value saw a considerable increase of 49%, bringing it to Rs 6,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 7,150 per sq.ft, marking a 10% increase from the previous year. There are no figures available for 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 for these streets is Rs 9,900 per sq.ft, placing Thiruvalluvar Nagar 50th Cross Street's 2024 figure below that median.

• Thiruvalluvar Nagar 51st Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 52nd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 53rd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 54th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 55th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 56th Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 50th 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 amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total cost for these fees to Rs 6,43,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 50th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 50th 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 serves as a benchmark for property transactions in Thiruvanmiyur. When a property is bought or sold, the guideline value is referenced to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on the established rates.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 50th Cross Street?

The current guideline value of Thiruvalluvar Nagar 50th 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 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 the years.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for the 484 streets in Thiruvanmiyur under the Chennai South Joint I SRO is Rs 9,900 per sq.ft, with Thiruvalluvar Nagar 50th Cross Street's value being below this median.

What are the stamp duty and registration fees for properties in Thiruvalluvar Nagar 50th Cross Street?

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 registrations for Thiruvalluvar Nagar 50th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Thiruvalluvar Nagar 50th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.