Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Ottiyampakkam village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,800 per sq.ft, and then further rose to Rs 1,950 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,950 per sq.ft, which is equal to the current guideline value of Thiruvalluvar Street.

• Thangarajapuram: Rs 1,950 per sq.ft (2024)
• Tellus Avenue Phase-II: Rs 3,200 per sq.ft (2024)
• Tellus Avenue: Rs 3,200 per sq.ft (2024)
• Veerapandia Kottapomman Street: Rs 1,950 per sq.ft (2024)
• Sri Sai Nagar Phase-III: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-II: Rs 3,200 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 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor during the registration of property transactions in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the officially set values.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification of Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class I Type - I.

What are the stamp duty rates for properties in Thiruvalluvar Street?

The stamp duty rate for properties in Thiruvalluvar Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiruvalluvar Street?

The Sub Registrar Office for Thiruvalluvar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.