Guideline Value for Thiruvalluvar 3rd Street

Thiruvalluvar 3rd Street guideline value

The current guideline value of Thiruvalluvar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thiruvalluvar 3rd Street has changed

The guideline value for Thiruvalluvar 3rd Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 750 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33%. Following this, the value surged to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

Notably, there are no recorded figures for Thiruvalluvar 3rd Street in the years 2002 and 2003. From 2007 to 2024, the overall increase in the guideline value is 340%, showcasing significant fluctuations throughout the years.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means Thiruvalluvar 3rd Street's 2024 figure is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for duty and registration to Rs 2,97,000. 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 3rd Street?

The Sub Registrar Office that covers Thiruvalluvar 3rd 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 details.

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

When buying or selling property in Virugambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and serves as a benchmark for property transactions, ensuring that the taxes collected are based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. This value is used during the registration process to calculate the applicable fees, which can significantly impact the financial aspects of a real estate deal.

Frequently asked questions

What is the current guideline value of Thiruvalluvar 3rd Street?

The current guideline value of Thiruvalluvar 3rd 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 significantly from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, which means Thiruvalluvar 3rd Street's 2024 figure is below this median.

What are the stamp duty and registration fees for properties in Thiruvalluvar 3rd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which office handles registrations for Thiruvalluvar 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for Thiruvalluvar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.