Guideline Value for Thiruvalluvar 1st Cross Street

Thiruvalluvar 1st Cross Street guideline value

The current guideline value of Thiruvalluvar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar 1st Cross Street has changed

The guideline value for Thiruvalluvar 1st Cross Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,500 per sq.ft, which was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it to Rs 3,850 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most notable change was between 2017 and 2023, where the value rose by 49%. The increase from 2023 to 2024 is 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Thiruvalluvar 1st Cross Street.

• Thiruvalluvar 1st Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 3,850 per sq.ft (2024)
• Thiruppuzhal Street: Rs 3,850 per sq.ft (2024)
• Thiruppuzhal 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Thiruppur Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would amount to Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your specific fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar 1st Cross Street?

The Sub Registrar Office that covers Thiruvalluvar 1st Cross Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value of the property, which is essential for calculating stamp duty and registration fees.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate taxes based on the property's assessed worth. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar 1st Cross Street?

The current guideline value of Thiruvalluvar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Thiruvalluvar 1st Cross Street?

Thiruvalluvar 1st Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Thiruvalluvar 1st Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,69,500.