Guideline Value for THIRUVALLUVAR NAGAR 8TH MAIN ROAD

Thiruvalluvar Nagar 8th Main Road guideline value

The current guideline value of Thiruvalluvar Nagar 8th Main Road is Rs 7,150 per sq.ft, effective from 1 July 2024. This road 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 8th Main Road has changed

The guideline value for Thiruvalluvar Nagar 8th Main Road has seen several revisions over the years. In 2002, the value was Rs 1,127 per sq.ft, which increased to Rs 1,247 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, a significant increase of 44%. The value then surged to Rs 6,500 per sq.ft in 2012, reflecting a 261% increase from 2007. However, it decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The guideline value then rose again to Rs 6,500 per sq.ft in 2023, with a 49% increase, and finally reached Rs 7,150 per sq.ft in 2024, a 10% increase from the previous year.

There are no figures for revisions in the register for any years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 534%.

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. The guideline value for Thiruvalluvar Nagar 8th Main Road is below this median.

• Thiruvalluvar Nagar 8th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Cross Street: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 7th Main Road: Rs 7,150 per sq.ft (2024)
• Thiruvalluvar Nagar 7th Cross Street: 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)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 8th Main Road

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 be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total cost for these fees Rs 6,43,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 8th Main Road?

The Sub Registrar Office that covers Thiruvalluvar Nagar 8th Main Road 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 the registration of property transactions in Thiruvanmiyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property being transacted. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 8th Main Road?

The current guideline value of Thiruvalluvar Nagar 8th Main Road 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, indicating an overall increase of 534% over this period.

What are the other streets in Thiruvanmiyur with the same guideline value?

Other streets in Thiruvanmiyur that share the same guideline value of Rs 7,150 per sq.ft include Thiruvalluvar Nagar 8th Cross Street, 9th Cross Street, 7th Main Road, 7th Cross Street, 6th Main Road, and 6th Cross Street.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Thiruvalluvar Nagar 8th Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Thiruvalluvar Nagar 8th Main Road?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 5,00,500.