Guideline Value for Thiruvalluvar Colony (NP)

Thiruvalluvar Colony (NP) guideline value

The current guideline value of Thiruvalluvar Colony (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Thiruvalluvar Colony (NP) has changed

The guideline value of Thiruvalluvar Colony (NP) has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 620 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 303% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting a substantial increase of 61% from the 2017 figure.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Thiruvalluvar Colony (NP) is below this median value.

• Thiruvalluvar 2nd Street (NP): Rs 2,200 per sq.ft (2024)
• Thirunavukkarasu Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thirunavukkarasar Cross Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiru Nagar Periyar Street: Rs 4,900 per sq.ft (2024)
• Thiru Nagar Kambar Street: Rs 4,900 per sq.ft (2024)
• Thirumurugan Street Block 93: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Colony (NP)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Colony (NP)?

The Sub Registrar Office that covers Thiruvalluvar Colony (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the government’s records.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps in maintaining a clear record of property ownership.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Colony (NP)?

The current guideline value of Thiruvalluvar Colony (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with the value increasing from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is a total increase of 335% over this period.

What are the stamp duty rates for properties in Thiruvalluvar Colony (NP)?

The stamp duty rate for properties in Thiruvalluvar Colony (NP) is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Thiruvalluvar Colony (NP)?

The Ashok Nagar Sub Registrar Office covers Thiruvalluvar Colony (NP) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Thiruvalluvar Colony (NP)?

Thiruvalluvar Colony (NP) is classified as Residential Class IV Type - III, which indicates its designation for residential purposes.