Guideline Value for THIRUVALLUVAR NAGAR 7TH CROSS STREET

Thiruvalluvar Nagar 7th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 7th 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 7th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 7th Cross Street has seen several revisions over the years. The earliest recorded figure is Rs 1,127 per sq.ft from the 2002 revision. This value increased to Rs 1,247 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 44% increase. In 2012, the guideline value was Rs 6,500 per sq.ft, which was a substantial increase of 261% from the previous revision. However, it then decreased to Rs 4,355 per sq.ft in 2017, a decline of 33%. The value saw a notable rise again to Rs 6,500 per sq.ft in 2023, and finally, it increased to Rs 7,150 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the current 2024 figure, the guideline value has increased by 534%. There are no figures available for any other revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values 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, placing Thiruvalluvar Nagar 7th Cross Street's 2024 value below this median.

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

Stamp duty and registration fee for property in Thiruvalluvar Nagar 7th 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, resulting in a total of 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 7th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 7th Cross Street is the Chennai South Joint I Sub Registrar Office. The address is 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 the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the financial obligations of both parties involved in the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 7th Cross Street?

The current guideline value of Thiruvalluvar Nagar 7th 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%.

What is the land classification for Thiruvalluvar Nagar 7th Cross Street?

The land classification for Thiruvalluvar Nagar 7th Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles the registration for Thiruvalluvar Nagar 7th Cross Street?

The registration for Thiruvalluvar Nagar 7th Cross Street is handled by 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.