Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Perungudi village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Thiruvalluvar Street has changed

The guideline value of Thiruvalluvar Street has undergone several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased significantly to Rs 267 per sq.ft in 2003, marking a 13% rise. The next revision in 2012 saw the value at Rs 3,000 per sq.ft, reflecting a substantial increase of 1,024% from 2003. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and in 2024, it increased further to Rs 3,300 per sq.ft, which is a 10% rise from the previous year. Notably, the register has no figure for this street in 2007.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as Thiruvalluvar Street's current guideline value.

• Thiruvalluvar Street (Sri Jayendra Colony): Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar Part-1: Rs 2,800 per sq.ft (2024)
• Thiruvalluvar Nagar Part: Rs 2,800 per sq.ft (2024)
• Thiruvenkadam Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Main Road: Rs 4,400 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and ensures that the applicable fees are calculated 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 236 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,298% over the years.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at a rate of 7%.