Guideline Value for THIRUVALLUVAR STREET VGP SHANTHI NAGAR

Thiruvalluvar Street Vgp Shanthi Nagar guideline value

The current guideline value for Thiruvalluvar Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thiruvalluvar Street Vgp Shanthi Nagar has changed

The guideline value for Thiruvalluvar Street Vgp Shanthi Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Thiruvalluvar Street Vgp Shanthi Nagar above this median.

• Thiruvalluvar Strete 2nd Cross St: Rs 1,650 per sq.ft (2024)
• THIRUVALLUVAR STREET 1st CROSS: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam Nagar: Rs 1,320 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,320 per sq.ft (2024)
• Thiru.VI.Ka Public Servants Welfare Housing Society Layout: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street Vgp Shanthi Nagar

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Street Vgp Shanthi Nagar?

The Thiruvalluvar Street Vgp Shanthi Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street Vgp Shanthi Nagar?

The current guideline value of Thiruvalluvar Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Street Vgp Shanthi Nagar?

The land classification for Thiruvalluvar Street Vgp Shanthi Nagar is Residential Special Type - I.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Thiruvalluvar Street Vgp Shanthi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.