Guideline Value for Thiruvalluvar 2nd Street

Thiruvalluvar 2nd Street guideline value

The current guideline value of Thiruvalluvar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruvalluvar 2nd Street has changed

Over the years, the guideline value for Thiruvalluvar 2nd Street has seen several revisions. The earliest recorded figure is from 2003, which was Rs 303 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2007, marking a change of +164%. The value remained unchanged at Rs 2,500 per sq.ft from 2012 until the 2023 revision, which also held the same figure. The most recent revision in 2024 saw the guideline value rise to Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2017 for this street. The overall increase from the 2003 figure to the current 2024 figure is +808%, demonstrating a significant rise in the guideline value over the years.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values 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 2nd Street's value below the median.

• Thiruvalluvar 1st 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)
• Thiruvalluvar Nagar: Rs 2,750 per sq.ft (2024)
• Thiruthani Nagar: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Yamuna Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar 2nd Street?

The Thiruvalluvar 2nd Street falls under 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 details.

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

The guideline value is a crucial factor when it comes to property registration in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar 2nd Street?

The current guideline value of Thiruvalluvar 2nd 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 changed 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office handles registrations for Thiruvalluvar 2nd Street?

The Pallavaram Sub Registrar Office handles registrations for Thiruvalluvar 2nd Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Thiruvalluvar 2nd Street?

The land classification for Thiruvalluvar 2nd Street is Residential Class II Type - I.