Guideline Value for THIRUVALLUVAR STREET (WARD -4)

Thiruvalluvar Street (Ward -4) guideline value

The current guideline value of Thiruvalluvar Street (Ward -4) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thiruvalluvar Street (Ward -4) has changed

The guideline value for Thiruvalluvar Street (Ward -4) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a growth of 10% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The changes between the revisions highlight fluctuations in the guideline value, with the most significant increase occurring between 2017 and 2023, which saw a rise of 49%.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Thiruvalluvar Street (Ward -4) above that median.

• Thiruvarutpa Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Street (Ward -18): Rs 661 per sq.ft (2024)
• Thiruvasagar Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thiru VI Ka Nagar: Rs 990 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)

Stamp duty and registration fee for property in Thiruvalluvar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street (Ward -4)?

The Sub Registrar Office that covers Thiruvalluvar Street (Ward -4) 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 details.

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

The guideline value plays a crucial role during property transactions in Peramanoor. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding how the guideline value is applied can help in better financial planning for property dealings in the area.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street (Ward -4)?

The current guideline value of Thiruvalluvar Street (Ward -4) 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 experienced several changes, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Thiruvalluvar Street (Ward -4)?

The land classification for Thiruvalluvar Street (Ward -4) is Residential Special Type - I, indicating its suitability for residential purposes.

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 registrations for properties in the area.

How is stamp duty calculated for properties in Thiruvalluvar Street (Ward -4)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at the rate of 7%.