Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a substantial rise of 767%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value was retained in the 2024 revision, indicating no change from the previous year. The register has no figures for the years 2002 and 2003.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO, with 2024 guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Thiruvalluvar Street's 2024 value above that median.

• Thiru.VI.Ka.Steet: Rs 800 per sq.ft (2024)
• Tholkappiar Street: Rs 800 per sq.ft (2024)
• Thulukanathamman Street: Rs 800 per sq.ft (2024)
• Thilakar Street: Rs 800 per sq.ft (2024)
• Theeran Sivalingam Street: Rs 800 per sq.ft (2024)
• Vaikai Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengathur. It is the basis for calculating stamp duty and registration fees, which are essential costs involved in property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and returned to Rs 1,300 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Vengathur?

Other streets in Vengathur have varying guideline values, with rates as low as Rs 500 per sq.ft and as high as Rs 2,000 per sq.ft. For example, Thiru.VI.Ka.Steet, Tholkappiar Street, Thulukanathamman Street, Thilakar Street, and Theeran Sivalingam Street all have a 2024 guideline value of Rs 800 per sq.ft.

What are the stamp duty and registration fees for properties in Thiruvalluvar Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 13,00,000, the total cost for these fees would be Rs 1,17,000.

Where is the Sub Registrar Office for Thiruvalluvar Street?

The Sub Registrar Office for Thiruvalluvar Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.