Guideline Value for THIRUVALLUVAR NAGAR 6TH CROSS STREET

Thiruvalluvar Nagar 6th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 6th 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 is classified as Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Nagar 6th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 6th Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the 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 saw a significant jump to Rs 1,800 per sq.ft in 2007, which was a 44% increase. Following this, the 2012 revision brought the value back down to Rs 6,500 per sq.ft, a decrease of 261%. In 2017, the guideline value rose to Rs 4,355 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 6,500 per sq.ft, and the latest revision in 2024 increased it to Rs 7,150 per sq.ft, a 10% rise.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 534%. There are no figures available for years not mentioned in this summary.

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. Thiruvalluvar Nagar 6th Cross Street's current value is below this median.

• Thiruvalluvar Nagar 65th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 64th Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 6th Main Road: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 63rd Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 62nd Cross Street: Rs 8,250 per sq.ft (2024)
• Thiruvalluvar Nagar 61st Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 6th 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 together to Rs 6,43,500. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 6th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 6th 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 during property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must be aware that the registration fees are applied based on either the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value for taxation purposes. It helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 6th Cross Street?

The current guideline value of Thiruvalluvar Nagar 6th 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 are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total cost of Rs 6,43,500 in fees.

Which Sub Registrar Office handles registrations for Thiruvalluvar Nagar 6th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Thiruvalluvar Nagar 6th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value and helps maintain transparency in the real estate market.