Guideline Value for Thiruvalluvar Lane - I

Thiruvalluvar Lane - I guideline value

The current guideline value for Thiruvalluvar Lane - I is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Thiruvalluvar Lane - I has changed

The guideline value register for Thiruvalluvar Lane - I shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 3,850 per sq.ft.

There have been no changes in the guideline value between the revisions mentioned. The 2024 revision is the only figure available for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the current value for Thiruvalluvar Lane - I below this median.

• Thiruvalluvar Lane: Rs 3,850 per sq.ft (2024)
• Thirumurugan Street/Sakthi Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thirumurugan Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)
• Thiruveedhiamman Koil Street: Rs 4,400 per sq.ft (2024)
• Thiruveethi Amman Koil 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Lane - I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together Rs 3,46,500. 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 Lane - I?

The Sub Registrar Office that covers Thiruvalluvar Lane - I is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the buyer is required to pay the stamp duty based on either the guideline value or the sale price, depending on which is higher. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Lane - I?

The current guideline value for Thiruvalluvar Lane - I is Rs 3,850 per sq.ft, effective from 1 July 2024.

What land classification does Thiruvalluvar Lane - I fall under?

Thiruvalluvar Lane - I is classified as Residential Class II Type - III according to the guideline value register.

Have there been any changes in the guideline value for Thiruvalluvar Lane - I?

There have been no changes in the guideline value for Thiruvalluvar Lane - I between the revisions listed in the register.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that buyers must pay. It is crucial for ensuring that the correct fees are collected during the registration process.

Where can I find the Sub Registrar Office for Thiruvalluvar Lane - I?

The Sub Registrar Office covering Thiruvalluvar Lane - I is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.