Guideline Value for THIRUVALLUVAR SALAI (WARD -6)

Thiruvalluvar Salai (Ward -6) guideline value

The current guideline value of Thiruvalluvar Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Thiruvalluvar Salai (Ward -6) has changed

The guideline value for Thiruvalluvar Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, positioning Thiruvalluvar Salai (Ward -6) above this median.

• Thiruvalluvar Street (Ward -18): Rs 660 per sq.ft (2024)
• Thiruvalluvar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Thiruvarutpa Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thiruvasagar Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thiruthakka Devar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Thirupozai Street: Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Salai (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Salai (Ward -6)?

The Sub Registrar Office that covers Thiruvalluvar Salai (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value for property registration, ensuring that properties are not undervalued during the sale process. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai (Ward -6)?

The current guideline value of Thiruvalluvar Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017, and the value increased by 49% to reach Rs 2,000 per sq.ft in 2023.

What is the land classification for Thiruvalluvar Salai (Ward -6)?

Thiruvalluvar Salai (Ward -6) is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thiruvalluvar Salai (Ward -6)?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for Thiruvalluvar Salai (Ward -6).