Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Hastinapuram village is Rs 2,380 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,474 per sq.ft. The 2023 revision increased the value to Rs 2,200 per sq.ft, which then rose by 8% to the current value of Rs 2,380 per sq.ft in 2024.

Between the 2017 and 2023 revisions, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a modest increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, indicating that Thiruvalluvar Street's current guideline value is below this median.

• Thiruvaluvar Nagar: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar & Street: Rs 2,380 per sq.ft (2024)
• Thiru.VI.Ka 1 And 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar 2nd Street: Rs 2,380 per sq.ft (2024)
• Thiru.Vi.Ka Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Thiyagarajan Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, while the registration fee at 2% would be Rs 47,600, bringing the total to Rs 2,14,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which property can be registered with the local authorities. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,380 per sq.ft in 2024, reflecting an increase of 8%. It was Rs 1,474 per sq.ft in 2017, indicating a 49% increase from that year to 2023.

What is the land classification of Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class II Type - I according to the local guidelines.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 23,80,000, leading to specific calculations for stamp duty and registration fees.