Guideline Value for THIRUVALLUVAR NAGAR PART-1

Thiruvalluvar Nagar Part-1 guideline value

The current guideline value for Thiruvalluvar Nagar Part-1 is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thiruvalluvar Nagar Part-1 has changed

The guideline value for Thiruvalluvar Nagar Part-1 has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, when it was Rs 236 per sq.ft. This value increased to Rs 267 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 800 per sq.ft in 2007, which was a 200% increase. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, reflecting a 213% increase from the previous figure. However, it dropped to Rs 1,675 per sq.ft in 2017, showing a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,800 per sq.ft in the 2024 revision, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,086%. There are no figures available for the revisions in years other than those listed.

Guideline values in Perungudi

In Perungudi, there are a total of 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the 2024 figure for Thiruvalluvar Nagar Part-1 lower than the median.

• Thiruvalluvar Nagar Part: Rs 2,800 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street (Sri Jayendra Colony): Rs 6,100 per sq.ft (2024)
• Thiruvenkadam Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar Part-1

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar Part-1?

The Sub Registrar Office that covers Thiruvalluvar Nagar Part-1 is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Perungudi

The guideline value is a crucial factor in the property registration process in Perungudi. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership. Buyers should be aware that these fees are calculated on the higher of the guideline value or the sale price.

When purchasing property, it is essential to consider the guideline value as it reflects the minimum value at which properties are registered. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar Part-1?

The current guideline value of Thiruvalluvar Nagar Part-1 is Rs 2,800 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 236 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,086% over the years.

What is the median guideline value in Perungudi?

The median guideline value for streets in Perungudi under the Neelankarai SRO is Rs 3,300 per sq.ft, which is higher than the current value for Thiruvalluvar Nagar Part-1.

What fees are associated with buying property in Thiruvalluvar Nagar Part-1?

When buying property, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.