Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Gowrivakkam village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 700 per sq.ft, followed by a significant rise to Rs 880 per sq.ft in the 2024 revision, marking a 26% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 26% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Thiruvalluvar Street's 2024 figure below that median.

• Tellus Avenue: Rs 2,650 per sq.ft (2024)
• Velacheri Main Road: Rs 3,750 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Gowrivakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for property on Thiruvalluvar Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office is responsible for Thiruvalluvar Street?

The Selaiyur Sub Registrar Office is responsible for Thiruvalluvar Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.