Guideline Value for Thiruvallur Road

Thiruvallur Road guideline value

The current guideline value of Thiruvallur Road in Somangalam village, under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thiruvallur Road has changed

The guideline value for Thiruvallur Road has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 200 per sq.ft. The 2017 revision saw a decrease to Rs 134 per sq.ft, marking a significant drop of 33%. However, from 2017 to 2023, the guideline value increased by 49%, returning to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. Overall, the guideline value from 2012 to 2024 remains unchanged at Rs 200 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median of Rs 350 per sq.ft. Thiruvallur Road's guideline value is below this median.

• Thoiba Garden: Rs 250 per sq.ft (2024)
• Thoiba Garden I: Rs 250 per sq.ft (2024)
• Thoiba Garden - II: Rs 250 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvallur Road

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvallur Road?

The Thiruvallur Road is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the required duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvallur Road?

The current guideline value of Thiruvallur Road is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 200 per sq.ft since 2012, with fluctuations in between, including a drop to Rs 134 per sq.ft in 2017 and a return to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Somangalam with their guideline values?

Other streets in Somangalam include Thoiba Garden, Thoiba Garden I, Thoiba Garden - II, Thillai Nagar, Thendral Nagar, and Thangam Nagar - III Extension, with values ranging from Rs 200 to Rs 500 per sq.ft in 2024.

How is stamp duty calculated for properties?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000.

Where can I find the Sub Registrar Office for Thiruvallur Road?

The Sub Registrar Office covering Thiruvallur Road is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information through the provided link.