Guideline Value for Thiruvalluvar 1st Street

Thiruvalluvar 1st Street guideline value

The current guideline value of Thiruvalluvar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thiruvalluvar 1st Street has changed

The guideline value for Thiruvalluvar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 550 per sq.ft, which increased to Rs 609 per sq.ft in 2003, marking a change of +11%. The value then rose to Rs 750 per sq.ft in 2007, an increase of +23%. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, representing a +300% change. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of -33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, reflecting a change of +10%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +500%.

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 guideline value for these streets is Rs 4,400 per sq.ft, placing Thiruvalluvar 1st Street's 2024 figure below that median.

• Thiruvalluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Colony: Rs 6,600 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 1st Street

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, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiruvalluvar 1st Street?

The Sub Registrar Office that covers Thiruvalluvar 1st 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 Virugambakkam

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value rather than fluctuating market prices.

When a property transaction occurs, the guideline value is referenced to assess the appropriate fees. Buyers and sellers should be aware that the fees are calculated based on the higher of the guideline value or the sale price, which ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Thiruvalluvar 1st Street 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 an overall increase of +500% over the years.

What is the land classification for Thiruvalluvar 1st Street?

The land classification for Thiruvalluvar 1st Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Thiruvalluvar 1st Street?

The Sub Registrar Office for Thiruvalluvar 1st Street 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, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,97,000.