Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street, located in Saidapet village under the Chennai South Joint II SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Street has changed

Thiruvalluvar Street has seen several changes in its guideline value over the years. The register shows that in 2002, the guideline value was Rs 705 per sq.ft. This increased to Rs 883 per sq.ft in 2003, marking a 25% rise. The value then continued to rise to Rs 1,300 per sq.ft in 2007, which represented a 47% increase. After this, there was a significant jump to Rs 3,000 per sq.ft in 2012, reflecting a 131% increase. However, the value dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of 33%. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 368%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Saidapet

In Saidapet, there are a total of 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Thiruvalluvar Street's 2024 figure below that median.

• Varasithi Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Vathiyar Subbaraya Mudali Street: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil St (A) Sowndares Warar Koil Street: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 1st Lane: Rs 4,400 per sq.ft (2024)
• Subramania Swamy Koil Street: Rs 4,950 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also 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 Chennai South Joint II 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is valued fairly based on the current market rates set by the government.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements and to accurately calculate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 705 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 368%.

What is the classification of Thiruvalluvar Street?

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

Where can I find the registration office for Thiruvalluvar Street?

The registration office for Thiruvalluvar Street is the Chennai South Joint II Sub Registrar Office, 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 for properties in Thiruvalluvar Street is 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 guideline value, the total stamp duty would be Rs 2,31,000.