Guideline Value for THIRUVALLUVAR NAGAR

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value for Thiruvalluvar Nagar.

• Thiruppathi Nagar Extn: Rs 1,650 per sq.ft (2024)
• Thirupathy Nagar: Rs 1,650 per sq.ft (2024)
• Thowbik Nagar: Rs 990 per sq.ft (2024)
• The Madras Avenue: Rs 3,000 per sq.ft (2024)
• The Lotus Phase-I, II: Rs 1,650 per sq.ft (2024)
• Tansi puram: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiruvalluvar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to ensure compliance with local regulations. The guideline value helps in assessing the fair value of the property for taxation purposes and aids in the transparent transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024. This represents an overall increase of 64% over the seven-year period.

What is the land classification for Thiruvalluvar Nagar?

The land classification for Thiruvalluvar Nagar is Residential Special Type - II. This classification is important for determining the type of development allowed in the area.

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

The Sub Registrar Office for Thiruvalluvar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Thiruvalluvar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.