Guideline Value for THIRUVALLUVAR NAGAR 59TH CROSS STREET

Thiruvalluvar Nagar 59th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 59th 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 59th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 59th 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 increase of 11%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which represented a 44% increase from the previous revision. By 2012, the value was Rs 7,500 per sq.ft, reflecting a substantial increase of 317%. However, there was a decrease to Rs 5,025 per sq.ft in 2017, which was a drop of 33%. The value then rose to Rs 7,500 per sq.ft in 2023, and finally, it reached Rs 8,250 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 632%. There are no figures available for the revisions of years not mentioned in the register for this street.

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 of Rs 9,900 per sq.ft. The guideline value for Thiruvalluvar Nagar 59th Cross Street is below this median.

• Thiruvalluvar Nagar 58th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 57th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 56th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 5th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 55th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 54th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 59th 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 amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 59th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 59th 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 details.

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 serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 59th Cross Street?

The current guideline value of Thiruvalluvar Nagar 59th 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 59th Cross Street?

The land classification for Thiruvalluvar Nagar 59th Cross Street is Residential Class II Type - I.

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

The Sub Registrar Office covering Thiruvalluvar Nagar 59th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How do stamp duty and registration fees work in Thiruvalluvar Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 7,42,500 in fees.