Guideline Value for Thiruvalluvar Colony 4th Cross Street

Thiruvalluvar Colony 4th Cross Street guideline value

The current guideline value of Thiruvalluvar Colony 4th Cross Street is Rs 2,200 per sq.ft. This street is located in Nerkundram village, under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thiruvalluvar Colony 4th Cross Street has changed

The guideline value for Thiruvalluvar Colony 4th Cross Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which significantly increased to Rs 2,000 per sq.ft in 2012, marking a remarkable rise of 567%. However, the value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with the 2024 guideline values 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 current guideline value for Thiruvalluvar Colony 4th Cross Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, 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 detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Colony 4th Cross Street?

The Thiruvalluvar Colony 4th Cross Street falls under 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 critical factor in the registration process for property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, facilitating transparency in the real estate market. This helps in maintaining a standardized approach to property valuation across the region.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Colony 4th Cross Street?

The current guideline value of Thiruvalluvar Colony 4th 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 increased 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 is the land classification for Thiruvalluvar Colony 4th Cross Street?

The land classification for Thiruvalluvar Colony 4th Cross Street is Residential Class IV Type - I.

Where can I find the registration office for Thiruvalluvar Colony 4th Cross Street?

The registration office for Thiruvalluvar Colony 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Thiruvalluvar Colony 4th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.