Guideline Value for Thiruvalluvar Colony

Thiruvalluvar Colony guideline value

The current guideline value of Thiruvalluvar Colony, located in Virugambakkam village under the Virugambakkam SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Thiruvalluvar Colony has changed

The guideline value for Thiruvalluvar Colony has undergone several revisions over the years. The earliest figure available is from 2002, which was Rs 603 per sq.ft. This increased to Rs 668 per sq.ft in 2003, marking an 11% rise. The value saw a substantial increase to Rs 2,100 per sq.ft in 2007, representing a 214% change. In 2012, the guideline value was Rs 6,000 per sq.ft, which was a decrease of 33% from the previous revision.

In 2017, the value rose to Rs 4,020 per sq.ft, showing a significant increase of 49%. The next revision in 2023 set the guideline value at Rs 6,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 6,600 per sq.ft, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 995%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Thiruvalluvar Colony's 2024 figure above this median.

• Thiruvalluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Road: Rs 3,300 per sq.ft (2024)
• Thirukkai Avenue Street: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Street (Reddy Street Near): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. 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 Thiruvalluvar Colony?

The Thiruvalluvar Colony is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Virugambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. The registration office will use this value to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Colony?

The current guideline value of Thiruvalluvar Colony is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 603 in 2002 to Rs 6,600 in 2024, which is an overall increase of 995%.

What is the land classification of Thiruvalluvar Colony?

Thiruvalluvar Colony is classified as Residential Special Type - II.

Where can I find the registration office for Thiruvalluvar Colony?

The registration office for Thiruvalluvar Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How do stamp duty and registration fees work in Thiruvalluvar Colony?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is important to consider these costs when planning a property transaction.