Guideline Value for THIRUVALLUVAR NAGAR/STREET

Thiruvalluvar Nagar/Street guideline value

The current guideline value of Thiruvalluvar Nagar/Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Thiruvalluvar Nagar/Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained the same in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 7%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value is Rs 1,600 per sq.ft, which is the same as the guideline value for Thiruvalluvar Nagar/Street.

• Thiruveethiyamman Koil Street: Rs 1,400 per sq.ft (2024)
• Thiruvotthiyur High Road: Rs 3,800 per sq.ft (2024)
• Thirumoorthi Nagar: Rs 3,300 per sq.ft (2024)
• Valluvar Nagar: Rs 1,400 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 3,300 per sq.ft (2024)
• S.V.M.Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar/Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar/Street?

The Thiruvottiyur Sub Registrar Office covers Thiruvalluvar Nagar/Street. The office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ernavur. It serves as a benchmark for assessing the value of the property, which helps in determining the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar/Street?

The current guideline value of Thiruvalluvar Nagar/Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Thiruvalluvar Nagar/Street?

Thiruvalluvar Nagar/Street is classified as Residential Class I Type - II.

How is stamp duty calculated for properties in Thiruvalluvar Nagar/Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.

Where can I find the Sub Registrar Office for Thiruvalluvar Nagar/Street?

The Sub Registrar Office covering Thiruvalluvar Nagar/Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.