Guideline Value for Thiruvalluvar City I

Thiruvalluvar City I guideline value

The current guideline value of Thiruvalluvar City I is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Thiruvalluvar City I has changed

The guideline value for Thiruvalluvar City I has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, marking a change of +10% from 2023 to 2024 and a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value during those years are not available.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. Thiruvalluvar City I's 2024 guideline value is above this median.

• Thiruvalluvar City II: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar City III: Rs 2,200 per sq.ft (2024)
• Thirupathy Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvenkadam Avenue: Rs 1,320 per sq.ft (2024)
• Therkku Theru (West Street): Rs 1,540 per sq.ft (2024)
• Thoppu Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar City I

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar City I?

The Sub Registrar Office that covers Thiruvalluvar City I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers alike, as it impacts the overall cost of property transactions. It ensures that the fees paid are reflective of the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value of Thiruvalluvar City I?

The current guideline value of Thiruvalluvar City I is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by +64%, rising from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Thiruvalluvar City I?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registration for Thiruvalluvar City I?

The Kunrathur Sub Registrar Office handles property registration for Thiruvalluvar City I, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Thiruvalluvar City I?

The land classification for Thiruvalluvar City I is Residential Special Type - I, indicating its designated use for residential purposes.