Guideline Value for THIRUVALLUVARPETTAI STREET

Thiruvalluvarpettai Street guideline value

The current guideline value of Thiruvalluvarpettai Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Thiruvalluvarpettai Street has changed

Since the 2002 revision, the guideline value for Thiruvalluvarpettai Street has seen significant increases. In 2002, the value was Rs 889 per sq.ft, which rose to Rs 988 per sq.ft in 2003, marking an increase of 11%. The value continued to rise to Rs 1,540 per sq.ft in 2007, reflecting a 56% increase from the previous revision. By 2012, the value jumped to Rs 6,500 per sq.ft, representing a substantial increase of 322%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from 2012.

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 699%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Thiruvalluvarpettai Street is below this median.

• Thiruveedhi Amman Koil (Mandaveli): Rs 8,200 per sq.ft (2024)
• Thiruveedhi Amman Koil (Royapettah): Rs 8,200 per sq.ft (2024)
• Thiruvengadam 2nd Street: Rs 7,100 per sq.ft (2024)
• Thiruvenkadam Street: Rs 14,300 per sq.ft (2024)
• Thiruvenkadam Street Extension: Rs 14,300 per sq.ft (2024)
• Thiruvalluvar Koil Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvarpettai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvarpettai Street?

The Sub Registrar Office that covers Thiruvalluvarpettai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. The higher of the guideline value and the sale price is used to calculate these fees, ensuring that the appropriate taxes are paid to the government.

When a property is sold, the guideline value provides a standard reference point that helps in establishing the legitimacy of the transaction. It ensures transparency and fairness in property dealings, as all parties involved have access to the same valuation metrics.

Frequently asked questions

What is the current guideline value of Thiruvalluvarpettai Street?

The current guideline value of Thiruvalluvarpettai Street is Rs 7,100 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 889 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 699% over the years.

What is the land classification for Thiruvalluvarpettai Street?

Thiruvalluvarpettai Street is classified as Residential Class IV Type - III.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Thiruvalluvarpettai Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft at the current guideline value, the total costs would amount to Rs 6,39,000.