Guideline Value for THIRUVALLUVAR NAGAR 5TH CROSS STREET

Thiruvalluvar Nagar 5th Cross Street guideline value

The current guideline value for Thiruvalluvar Nagar 5th 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 5th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 5th Cross Street has seen several revisions over the years. The earliest recorded figure was Rs 1,127 per sq.ft in 2002. This value increased to Rs 1,247 per sq.ft in 2003, marking an increase of 11%. From 2003 to 2007, the value rose significantly to Rs 1,800 per sq.ft, which is an increase of 44%. The 2012 revision brought the value to Rs 6,500 per sq.ft, reflecting a substantial increase of 261% from the previous figure. However, between 2012 and 2017, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The most recent revisions include Rs 6,500 per sq.ft in 2023 and the current figure of Rs 7,150 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the initial value in 2002 to the current value in 2024, there has been a significant increase of 534%. There are no figures available for any other years for this street in the register.

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 value for these streets is Rs 9,900 per sq.ft, indicating that the guideline value for Thiruvalluvar Nagar 5th Cross Street is below this median.

• Thiruvalluvar Nagar 59th Cross Street: Rs 8,250 per sq.ft (2024)
• 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 5th Main Road: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 56th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 55th Cross Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 5th 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 to Rs 6,43,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 5th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 5th 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 in the registration process when buying or selling property in Thiruvanmiyur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

During registration, the authorities will assess the property based on the guideline value, and the applicable stamp duty will be calculated accordingly. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 5th Cross Street?

The current guideline value for Thiruvalluvar Nagar 5th 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% over the years.

What is the land classification for Thiruvalluvar Nagar 5th Cross Street?

The land classification for Thiruvalluvar Nagar 5th 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 example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,43,500.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Thiruvalluvar Nagar 5th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.