Guideline Value for Thiruvalluvar 1st Street

Thiruvalluvar 1st Street guideline value

The current guideline value of Thiruvalluvar 1st Street in Zaminpallavaram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar 1st Street has changed

Over the years, the guideline value of Thiruvalluvar 1st Street has seen several revisions. The earliest recorded figure is from 2003, where the guideline value was Rs 303 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 164%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting an increase of 213%. However, this value dropped by 33% to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 raised it to Rs 2,750 per sq.ft, a change of 10%.

In summary, the guideline value has increased from Rs 303 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 808%. It is important to note that there is no recorded figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Thiruvalluvar 1st Street's 2024 value below that median.

• Thiruvalluvar 2nd Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar High Road: Rs 2,750 per sq.ft (2024)
• Thiruthani Nagar: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,750 per sq.ft (2024)
• Thirutani Nagar, Yamuna Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar 1st Street?

The Thiruvalluvar 1st Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's value, as reflected in the guideline value register.

Frequently asked questions

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

The current guideline value of Thiruvalluvar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 303 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 808% over the years.

What is the land classification of Thiruvalluvar 1st Street?

Thiruvalluvar 1st Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Thiruvalluvar 1st Street?

The registration office covering Thiruvalluvar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in Thiruvalluvar 1st Street?

The stamp duty for property in Thiruvalluvar 1st Street is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500.