Guideline Value for THIRUVALLUVAR SALAI

Thiruvalluvar Salai guideline value

The current guideline value of Thiruvalluvar Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO and is classified as Commercial Class I Type - II.

How the guideline value of Thiruvalluvar Salai has changed

The guideline value for Thiruvalluvar Salai has seen several revisions over the years. In 2012, the guideline value was set at Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in 2017, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures 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 Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Thiruvalluvar Salai is above this median.

• Thiruvalluvar Street: Rs 3,550 per sq.ft (2024)
• Thiru-VI-Ka Street: Rs 4,400 per sq.ft (2024)
• Thirupathi Nagar Road: Rs 3,550 per sq.ft (2024)
• Tichu Street: Rs 3,550 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 3,550 per sq.ft (2024)
• Thirumalainagar Extn: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Salai?

The Sub Registrar Office that covers Thiruvalluvar Salai is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees are based on a fair valuation of the property.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai?

The current guideline value of Thiruvalluvar Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 5,000 to Rs 5,500 in 2024, with notable fluctuations including a decrease to Rs 3,350 in 2017 and an increase to Rs 5,000 in 2023.

What is the land classification for Thiruvalluvar Salai?

Thiruvalluvar Salai is classified as Commercial Class I Type - II under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for property in Thiruvalluvar Salai?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

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

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