Guideline Value for Thiruvalluvar Colony 2nd Cross Street

Thiruvalluvar Colony 2nd Cross Street guideline value

The current guideline value for Thiruvalluvar Colony 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Colony 2nd Cross Street has changed

The guideline value for Thiruvalluvar Colony 2nd Cross Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,340 per sq.ft. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 567%. However, the value decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Thiruvalluvar Colony 2nd Cross Street.

• Thiruvalluvar Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony Extension: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Colony Main Road: Rs 2,200 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Colony 2nd Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Colony 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal valuation of the property. It is essential for ensuring compliance with the registration process and for calculating the applicable fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Colony 2nd Cross Street?

The current guideline value for Thiruvalluvar Colony 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,98,000.

Which office handles property registrations in Nerkundram?

The Virugambakkam Sub Registrar Office handles property registrations in Nerkundram, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum registration value for properties, ensuring compliance with legal requirements and the calculation of applicable fees based on the higher of the guideline value or the sale price.