Guideline Value for Thirubana Alvar Street

Thirubana Alvar Street guideline value

The current guideline value of Thirubana Alvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Thirubana Alvar Street has changed

The guideline value for Thirubana Alvar Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023 and is now Rs 1,650 per sq.ft as of the 2024 revision.

From 2023 to 2024, there was a 10% increase in the guideline value. Between 2017 and 2023, the value increased by 49%. The change from 2012 to 2017 showed a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Thirubana Alvar Street's 2024 figure is below this median.

• Thirugnana Sampanthar Street: Rs 2,640 per sq.ft (2024)
• Thilakar Street Extn: Rs 2,640 per sq.ft (2024)
• Thilakar Street: Rs 2,640 per sq.ft (2024)
• Thirumalai Nagar - I,II Street: Rs 1,980 per sq.ft (2024)
• Thirumalisai Alvar Street: Rs 2,310 per sq.ft (2024)
• Thirumangai Alwar Theru: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thirubana Alvar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirubana Alvar Street?

The Sub Registrar Office that covers Thirubana Alvar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Perungalathur. It serves as a reference point for determining the stamp duty and registration fees during the buying or selling process.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thirubana Alvar Street?

The current guideline value of Thirubana Alvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Thirubana Alvar Street?

Thirubana Alvar Street falls under the Residential Class IV Type - II land classification.

Where is the Sub Registrar Office located for Thirubana Alvar Street?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Thirubana Alvar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.