Guideline Value for Thirunavukkarasu Street (George Colony)

Thirunavukkarasu Street (George Colony) guideline value

The current guideline value for Thirunavukkarasu Street (George Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thirunavukkarasu Street (George Colony) has changed

Over the years, the guideline value for Thirunavukkarasu Street has experienced several revisions. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, the value dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in the 2024 revision, which is an 8% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Thirunavukkarasu Street's 2024 guideline value is below this median.

• Thiruvenkadam Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar: Rs 4,200 per sq.ft (2024)
• Thanthoniamman Koil Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirunavukkarasu Street (George Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Stamp 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 Thirunavukkarasu Street (George Colony)?

The Sub Registrar Office that covers Thirunavukkarasu Street (George Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Peravallur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is officially recorded with the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with the property transfer. Proper understanding of these values can aid in better planning for the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Thirunavukkarasu Street?

The current guideline value of Thirunavukkarasu Street (George Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024. Notable changes include a rise to Rs 2,500 per sq.ft in 2012 and a drop to Rs 1,675 per sq.ft in 2017.

What are the other streets in Peravallur with similar guideline values?

Other streets in Peravallur with similar guideline values include Thanthoniamman Koil Street, Thitty Thottam 1st Street, Thitty Thottam 2nd Street, and Thitty Thottam 3rd Street, all valued at Rs 2,700 per sq.ft in 2024.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles the registration for Thirunavukkarasu Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Thirunavukkarasu Street (George Colony).