Guideline Value for THIRUVALLUVAR NAGAR 56TH CROSS STREET

Thiruvalluvar Nagar 56th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 56th Cross Street 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 56th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 56th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which 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, reflecting a significant increase of 44%. Following this, the 2012 revision saw the guideline value drop to Rs 7,500 per sq.ft, a decrease of 317%. In 2017, the value increased again to Rs 5,025 per sq.ft, which was a 49% rise. The 2023 revision set the value at Rs 7,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 8,250 per sq.ft, marking a 10% increase.

Notably, there are no figures available for the revisions prior to 2002 or any years without a recorded figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 632%.

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. Thiruvalluvar Nagar 56th Cross Street's 2024 guideline value of Rs 8,250 per sq.ft is below this median.

• Thiruvalluvar Nagar 55th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 57th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 54th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 58th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 53rd Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 59th Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 56th Cross Street

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, while the registration fee at 2% would be Rs 1,65,000. Together, the total cost for these fees would be Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 56th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 56th 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 a crucial factor in the registration of property transactions in Thiruvanmiyur. It serves as a reference point for calculating the stamp duty and registration fees that are payable at the time of property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is registered at a value recognized by the government. This value is essential for legal documentation and for ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 56th Cross Street?

The current guideline value for Thiruvalluvar Nagar 56th Cross Street 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 from Rs 1,127 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 632% over this period.

What is the land classification for Thiruvalluvar Nagar 56th Cross Street?

The land classification for Thiruvalluvar Nagar 56th Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Thiruvalluvar Nagar 56th 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 properties in Thiruvalluvar Nagar?

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