Guideline Value for THIRUVALLUVAR SALAI

Thiruvalluvar Salai guideline value

The current guideline value of Thiruvalluvar Salai is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Salai has changed

The guideline value for Thiruvalluvar Salai has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 114 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The 2012 revision brought it to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024.

In terms of percentage changes, from 2003 to 2007, there was a remarkable increase of +339%. However, from 2012 to 2017, the value decreased by -33%. The guideline value then increased by +49% from 2017 to 2023, and further increased by +12% from 2023 to 2024. Overall, the guideline value has increased by +2356% from 2003 to 2024.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median of Rs 2,200 per sq.ft. Thiruvalluvar Salai's 2024 guideline value is above this median.

• Thiruvengadam Garden: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Cross Street: Rs 2,800 per sq.ft (2024)
• Thuraikannu Lane: Rs 2,200 per sq.ft (2024)
• Thendral Nagar: Rs 2,200 per sq.ft (2024)
• Univesal Diamond Layout: Rs 2,800 per sq.ft (2024)
• Thanigaivel Garden: Rs 3,300 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Salai?

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

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

The guideline value is a critical factor in property transactions in Enjambakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value serves as a benchmark for assessing property prices during registration.

When registering a property, the buyer must ensure that the sale price is not lower than the guideline value, as the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai?

The current guideline value of Thiruvalluvar Salai 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 from Rs 114 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with several revisions in between, including a peak of Rs 2,500 per sq.ft in 2012 and a drop to Rs 1,675 per sq.ft in 2017.

What are the stamp duty rates for properties in Thiruvalluvar Salai?

The stamp duty for properties in Thiruvalluvar Salai is currently 7% of the guideline value or sale price, whichever is higher. Additional registration fees are charged at 2%.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the guideline value determined for properties in Enjambakkam?

The guideline value for properties in Enjambakkam is determined by the Registration Department and varies by street. It is influenced by various factors, including previous revisions and the classification of the land.