Guideline Value for THIRUVALLUVAR STREET (WARD -18)

Thiruvalluvar Street (Ward -18) guideline value

The current guideline value of Thiruvalluvar Street (Ward -18) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thiruvalluvar Street (Ward -18) has changed

Over the years, the guideline value for Thiruvalluvar Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in the 2023 revision, and further rose to the current Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 reflects a modest increase of 10%. The most significant increase occurred between 2017 and 2023, with a rise of 49% in the guideline value.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Thiruvalluvar Street (Ward -18) is below this median value.

• Thiruvalluvar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Thiruvarutpa Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thiruvasagar Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Thiru. V.K. Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thiyagarajar Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street (Ward -18)?

The Sub Registrar Office that covers Thiruvalluvar Street (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these costs can significantly affect the overall expense of property acquisition.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street (Ward -18)?

The current guideline value of Thiruvalluvar Street (Ward -18) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024. The most significant increase occurred between 2017 and 2023, with a rise of 49%.

What is the land classification for Thiruvalluvar Street (Ward -18)?

The land classification for Thiruvalluvar Street (Ward -18) is Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles the registration of properties in Thiruvalluvar Street (Ward -18)?

The Chengleput Joint II Sub Registrar Office handles the registration of properties in Thiruvalluvar Street (Ward -18). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.