Guideline Value for Thirupavai Street (Sri Sakthi Nagar)

Thirupavai Street (Sri Sakthi Nagar) guideline value

The current guideline value of Thirupavai Street (Sri Sakthi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thirupavai Street (Sri Sakthi Nagar) has changed

The guideline value for Thirupavai Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. This change represented a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year’s figure of Rs 2,200 per sq.ft.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for Thirupavai Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Thirupavai Street (Sri Sakthi Nagar).

• Thirupur Kumaran Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Thiruvalluar Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Thiru Nagar - Akshaya Garden: Rs 2,700 per sq.ft (2024)
• Thiru Nagar: Rs 990 per sq.ft (2024)
• Thirumurugan Villa: Rs 1,100 per sq.ft (2024)
• Thirumullaivoil Salai: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupavai Street (Sri Sakthi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the 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 Thirupavai Street (Sri Sakthi Nagar)?

The Sub Registrar Office that covers Thirupavai Street (Sri Sakthi Nagar) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value may influence the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thirupavai Street (Sri Sakthi Nagar)?

The current guideline value of Thirupavai Street (Sri Sakthi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Thirupavai Street (Sri Sakthi Nagar)?

Thirupavai Street (Sri Sakthi Nagar) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Thirupavai Street (Sri Sakthi Nagar)?

The Sub Registrar Office for Thirupavai Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions in Thirupavai 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 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.