Guideline Value for Thiruvalluvar Cross Street

Thiruvalluvar Cross Street guideline value

The current guideline value of Thiruvalluvar Cross Street in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and pertains to land classified as Residential Class I Type - I.

How the guideline value of Thiruvalluvar Cross Street has changed

The guideline value of Thiruvalluvar Cross Street has seen several revisions over the years. The earliest recorded value is Rs 993 per sq.ft in 2002, which then decreased to Rs 119 per sq.ft in 2003. Following this, the value increased significantly to Rs 400 per sq.ft in 2007, and further rose to Rs 1,500 per sq.ft in 2012. The value saw a decline to Rs 1,005 per sq.ft in 2017, before increasing to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 sets the guideline value at Rs 1,650 per sq.ft.

Between the revisions, the most notable changes include a substantial increase of 275% from 2007 to 2012, and a 49% rise from 2017 to 2023. The value has increased by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 66%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. Thiruvalluvar Cross Street's current guideline value is above this median.

• Thiruvalluvar First Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Main Street: Rs 1,650 per sq.ft (2024)
• Thirupur Kumaran First Street: Rs 1,100 per sq.ft (2024)
• Thirupur Kumaran 2nd Street: Rs 1,100 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Cross Street?

The current guideline value of Thiruvalluvar Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 993 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with several revisions occurring in between.

What is the registration office for Thiruvalluvar Cross Street?

The registration office for Thiruvalluvar Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Thiruvalluvar Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the median guideline value for streets in Puzhal?

The median guideline value for streets in Puzhal is Rs 1,102 per sq.ft, while Thiruvalluvar Cross Street's current value is above this median.