Guideline Value for Thiruvalluvar 2nd Street

Thiruvalluvar 2nd Street guideline value

The current guideline value of Thiruvalluvar 2nd Street in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thiruvalluvar 2nd Street has changed

The guideline value for Thiruvalluvar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 957 per sq.ft, which then changed to Rs 97 per sq.ft in 2003. The following revision in 2007 set the value at Rs 400 per sq.ft, and by 2012, it increased to Rs 1,500 per sq.ft. The next revision in 2017 marked a significant rise to Rs 1,005 per sq.ft, followed by an increase to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 72%. The changes between the revisions highlight fluctuations, such as a 275% increase from 2007 to 2012 and a 49% increase from 2017 to 2023. There are no figures available for the revisions in years not listed in the register.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Thiruvalluvar 2nd Street's value above this median.

• Thiruvalluvar Cross Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar First Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Main Street: Rs 1,650 per sq.ft (2024)
• Thirupur Kumaran First Street: Rs 1,100 per sq.ft (2024)
• Thirupur Kumaran 2nd Street: Rs 1,100 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 1,100 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar 2nd Street?

The Sub Registrar Office that covers Thiruvalluvar 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thiruvalluvar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly since 2002, starting at Rs 957 per sq.ft and reaching Rs 1,650 per sq.ft in 2024. This reflects an overall increase of 72% from 2002 to 2024.

What are the stamp duty and registration fees for property in Thiruvalluvar 2nd Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value would be Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office is responsible for Thiruvalluvar 2nd Street?

The Redhills Sub Registrar Office is responsible for Thiruvalluvar 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Thiruvalluvar 2nd Street?

The land classification for Thiruvalluvar 2nd Street is Residential Class I Type - I, indicating its suitability for residential development.