Guideline Value for THIRUVALLUVAR NAGAR 51ST CROSS STREET

Thiruvalluvar Nagar 51st Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 51st 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 51st Cross Street has changed

Over the years, the guideline value of Thiruvalluvar Nagar 51st Cross Street has seen significant changes. 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 guideline value jumped dramatically to Rs 6,500 per sq.ft in 2012, reflecting a 261% increase. However, it then decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%. The value increased again to Rs 6,500 per sq.ft in 2023, followed by the current value of Rs 7,150 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2002 to 2024, the guideline value has risen by 534%. The register has no figures for the years not mentioned above.

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, positioning Thiruvalluvar Nagar 51st Cross Street below this median.

• Thiruvalluvar Nagar 50th 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 51st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 6,43,500. It is important to 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 more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar 51st Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 51st 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 plays a crucial role during the registration of property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 51st Cross Street?

The current guideline value of Thiruvalluvar Nagar 51st 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, showing an overall increase of 534% over this period.

What is the land classification for Thiruvalluvar Nagar 51st Cross Street?

The land classification for Thiruvalluvar Nagar 51st Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 6,43,500.

Which office handles property registrations in Thiruvalluvar Nagar 51st Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Thiruvalluvar Nagar 51st Cross Street, located in Fanepet Nandanam, Chennai.