Guideline Value for TIRUVALLUVAR NAGAR 5TH STREET

Tiruvalluvar Nagar 5th Street guideline value

The current guideline value of Tiruvalluvar Nagar 5th Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Tiruvalluvar Nagar 5th Street has changed

Over the years, the guideline value for Tiruvalluvar Nagar 5th Street has seen several revisions. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the latest 2024 revision has raised it to Rs 3,080 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the value saw a decline of 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,530 per sq.ft, making the current value of Tiruvalluvar Nagar 5th Street above this median.

• Tiruvalluvar Nagar Main Road: Rs 3,080 per sq.ft (2024)
• Thirvalluvar Nagar Main Road: Rs 3,080 per sq.ft (2024)
• Thiruvenkadamudaiyan Street: Rs 2,530 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 2,530 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Tiruvalluvar Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, while the registration fee at 2% would be Rs 61,600. Together, the total cost for stamp duty and registration fee would be Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tiruvalluvar Nagar 5th Street?

The Sub Registrar Office that covers Tiruvalluvar Nagar 5th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid during the registration of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the taxes due. It is essential for both parties to agree on a sale price that meets or exceeds the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Tiruvalluvar Nagar 5th Street?

The current guideline value of Tiruvalluvar Nagar 5th Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being 10% from Rs 2,800 per sq.ft in 2023 to Rs 3,080 per sq.ft in 2024. The value saw a significant increase of 49% from 2017 to 2023.

What is the land classification for Tiruvalluvar Nagar 5th Street?

Tiruvalluvar Nagar 5th Street is classified as Residential Class I Type - I. This classification is important for determining the permissible uses of the land.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Tiruvalluvar Nagar 5th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kilkattalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 30,80,000, the stamp duty at 7% would be Rs 2,15,600.