Guideline Value for THIRUVALLUVAR STREET (WARD-21)

Thiruvalluvar Street (Ward-21) guideline value

The current guideline value of Thiruvalluvar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruvalluvar Street (Ward-21) has changed

Over the years, the guideline value for Thiruvalluvar Street (Ward-21) has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 600 per sq.ft. In 2017, this value decreased to Rs 402 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 600 per sq.ft. The most recent revision in 2024 shows an increase to Rs 660 per sq.ft, which is a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median value among these streets is Rs 770 per sq.ft, placing Thiruvalluvar Street's 2024 figure below that median.

• Thiruvalluvar Street (Ward-20): Rs 880 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-21)

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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street (Ward-21)?

The Sub Registrar Office that covers Thiruvalluvar Street (Ward-21) 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 Konathi

The guideline value is a crucial factor in property transactions in Konathi. It serves as a benchmark for determining the minimum price at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees.

In the case where the sale price is lower than the guideline value, the higher amount will be used for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street (Ward-21)?

The current guideline value of Thiruvalluvar Street (Ward-21) 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 660 per sq.ft in 2024, reflecting a 10% increase overall. Notably, it decreased to Rs 402 per sq.ft in 2017 before rising again to Rs 600 per sq.ft in 2023.

What is the land classification for Thiruvalluvar Street (Ward-21)?

The land classification for Thiruvalluvar Street (Ward-21) is Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Thiruvalluvar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.