Guideline Value for Thiruvalluvar Road

Thiruvalluvar Road guideline value

The current guideline value of Thiruvalluvar Road in Virugambakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This road falls under the Virugambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Road has changed

The guideline value for Thiruvalluvar Road has seen several revisions over the years. In 2002, the guideline value was Rs 550 per sq.ft. This increased to Rs 609 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which was a 23% increase from the previous revision. The 2012 revision saw the value jump to Rs 3,000 per sq.ft, reflecting a significant 300% increase. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, indicating a 10% increase from the previous year. There are no figures available for revisions in years not listed in the register.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with 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 Road's 2024 figure below that median.

• Thiruvengadam Street (Reddy Street Near): Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Colony: Rs 6,600 per sq.ft (2024)
• 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)
• Thirukkai Avenue Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiruvalluvar Road?

The Sub Registrar Office covering Thiruvalluvar Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential aspect of property transactions in Virugambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the current guideline value, as this will affect the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Road?

The current guideline value for Thiruvalluvar Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing a total increase of 500% over the years.

What is the land classification for Thiruvalluvar Road?

Thiruvalluvar Road is classified as Residential Class IV Type - I.

Where can I find the registration office for Thiruvalluvar Road?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000.