Guideline Value for THIRUVALLUVAR STREET (WARD-20)

Thiruvalluvar Street (Ward-20) guideline value

The current guideline value of Thiruvalluvar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thiruvalluvar Street (Ward-20) has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 880 per sq.ft, reflecting a rise of 10% from the previous year.

It is important to note that there are no recorded figures for Thiruvalluvar Street in the revisions from 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 825 per sq.ft, placing Thiruvalluvar Street's 2024 figure above this median.

• Thiruvalluvar Street (Ward-21): Rs 660 per sq.ft (2024)
• Thiruveeka Street (Ward-21): Rs 660 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Thirumurugan Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Vallalar Nagar Ambedkar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street (Ward-20)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street (Ward-20)?

The Sub Registrar Office that covers Thiruvalluvar Street (Ward-20) 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 Vallancheri

The guideline value plays a crucial role in property transactions in Vallancheri, as it serves as a basis for calculating stamp duty and registration fees. When a property is bought or sold, the guideline value is considered to ensure that the transaction is recorded accurately and fairly in the official register.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street (Ward-20)?

The current guideline value of Thiruvalluvar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Street (Ward-20)?

The land classification for Thiruvalluvar Street (Ward-20) is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thiruvalluvar Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total fees would amount to Rs 79,200.