Guideline Value for Thiruvalluvar 2nd Street

Thiruvalluvar 2nd Street guideline value

The current guideline value of Thiruvalluvar 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, and it is classified as Residential Special 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 292 per sq.ft, which increased to Rs 321 per sq.ft in 2003. The following revision in 2007 marked a significant jump to Rs 1,100 per sq.ft, and by 2012, it had risen to Rs 4,500 per sq.ft. However, there was a decrease in 2017, with the value dropping to Rs 3,015 per sq.ft. The guideline value then increased to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 4,950 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +10%. The value surged by +243% from 2003 to 2007, followed by a +309% increase from 2007 to 2012. There was a decrease of -33% from 2012 to 2017, and a significant increase of +49% from 2017 to 2023. Finally, the value rose by +10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1595%.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thiruvalluvar 2nd Street's 2024 guideline value is above this median.

• Thiruvalluvar 1st Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street lane: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar Road: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)
• Thulasi Ammal Street: Rs 2,750 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Thiruvalluvar 2nd Street?

The Sub Registrar Office that covers Thiruvalluvar 2nd 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 Nesapakkam

The guideline value is a crucial factor in property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that all parties are aware of the financial implications of the transaction.

During the registration process, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. 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 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 292 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +1595% over the years.

What is the land classification of Thiruvalluvar 2nd Street?

Thiruvalluvar 2nd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Thiruvalluvar 2nd Street?

The Sub Registrar Office for Thiruvalluvar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.