Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen significant changes over the years. In 2002, the guideline value was Rs 99 per sq.ft, which increased to Rs 117 per sq.ft in 2003, marking an 18% rise. The value then rose dramatically to Rs 400 per sq.ft in 2007, a 242% increase from the previous revision. Following this, the 2012 revision set the value at Rs 1,500 per sq.ft, reflecting a substantial 275% increase from 2007.

The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% rise from the 2012 figure. Notably, there are no figures available for the years 2017 and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1567%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value for Thiruvalluvar Street.

• THIRUVALLUVAR STREET 1st CROSS: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Strete 2nd Cross St: Rs 1,650 per sq.ft (2024)
• Thiruvengadam 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Thiruvalluvar Street falls under the jurisdiction of 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 during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. The registration office uses this value to calculate the necessary charges, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Street?

The current guideline value for Thiruvalluvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 99 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1567% over the years.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

Which Sub Registrar Office is responsible for Thiruvalluvar Street?

The Chennai South Joint I Sub Registrar Office is responsible for Thiruvalluvar Street, 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 Thiruvalluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.