Guideline Value for Thiruvalluvar Nagar 11th Cross Street

Thiruvalluvar Nagar 11th Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 11th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 11th Cross Street has changed

The guideline value for Thiruvalluvar Nagar 11th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. In the latest 2024 revision, the value further increased to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 17%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Thiruvalluvar Nagar 11th Cross Street's 2024 figure is above this median.

• Thiruvalluvar Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 11th Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 11th Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 12th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 10th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 11th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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 Nagar 11th Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 11th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the minimum price at which properties can be sold and ensures transparency in property dealings.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 11th Cross Street?

The current guideline value of Thiruvalluvar Nagar 11th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Thiruvalluvar Nagar 11th Cross Street?

Thiruvalluvar Nagar 11th Cross Street is classified as Residential Class II Type - I.

What are the registration fees for properties in this area?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.