Guideline Value for Thiruvalluvar Lane

Thiruvalluvar Lane guideline value

The current guideline value of Thiruvalluvar Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thiruvalluvar Lane has changed

As per the revisions recorded, the guideline value for Thiruvalluvar Lane has seen changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

The 2024 revision reflects a significant update, with the current rate being Rs 8,700 per sq.ft. The previous value in 2023 was Rs 8,000 per sq.ft, showing a clear upward movement in the guideline value for this street.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, indicating that Thiruvalluvar Lane's 2024 figure is below this median.

• Thiruvalluvar Salai: Rs 8,800 per sq.ft (2024)
• Thiruveethian Street: Rs 8,700 per sq.ft (2024)
• Thomaiyappan Street: Rs 8,700 per sq.ft (2024)
• Thandavarayan Street: Rs 8,700 per sq.ft (2024)
• T.T.K.Lane: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Cross Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000. Together, the total cost for these fees would be Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Lane?

The Sub Registrar Office that covers Thiruvalluvar Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration process of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees, which are mandatory for legal ownership transfer.

When buying or selling property, the guideline value is referenced to ensure that the transaction complies with the legal requirements set by the Registration Department. It serves as a benchmark for assessing the value of the property being registered.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Lane?

The current guideline value of Thiruvalluvar Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thiruvalluvar Lane has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. Notably, Thiruvalluvar Salai is valued at Rs 8,800 per sq.ft, while Thiruveethian Street, Thomaiyappan Street, and Thandavarayan Street are all valued at Rs 8,700 per sq.ft.

What fees are associated with buying property in Thiruvalluvar Lane?

When purchasing property in Thiruvalluvar Lane, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 7,83,000.

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

The Sub Registrar Office that covers Thiruvalluvar Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.