Guideline Value for Thiruvalluvar Lane

Thiruvalluvar Lane guideline value

The current guideline value of Thiruvalluvar Lane is Rs 8,700 per sq.ft. This street is located in Mylapore Part 2 village, 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

The guideline value for Thiruvalluvar Lane has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, and in the 2024 revision, it increased to Rs 8,700 per sq.ft, reflecting a change of +9%.

In the most recent revisions, the 2023 figure was Rs 8,000 per sq.ft, while the 2024 figure is Rs 8,700 per sq.ft. This increase indicates a notable adjustment in the guideline value within a single year.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 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, placing Thiruvalluvar Lane's 2024 figure below that 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 would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is crucial during the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set by the government.

When a property is bought or sold, the guideline value helps in calculating the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and compliance in property dealings.

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 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 has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for a property on Thiruvalluvar Lane?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Thiruvalluvar Lane?

The Chennai Central Joint I Sub Registrar Office covers Thiruvalluvar Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Thiruvalluvar Lane?

The land classification for Thiruvalluvar Lane is Residential Class I Type - III, indicating its zoning for residential purposes.