Guideline Value for Thiruvalluvar Nagar 1st Cross Street

Thiruvalluvar Nagar 1st Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 1st Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Nagar 1st Cross Street has changed

The guideline value for Thiruvalluvar Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Examining the changes between these revisions, we see that from 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 shows a further increase of 13%. Overall, from 2012 to 2024, there has been a 13% increase in the guideline value, reflecting the changes in the local property market.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Thiruvalluvar Nagar 1st Cross Street's 2024 figure below this median.

• Thiruvalluvar Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 1,700 per sq.ft (2024)
• Thiru Pakkam Link Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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 Nagar 1st Cross Street?

The Sub Registrar Office covering Thiruvalluvar Nagar 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Neelankarai, as it serves as a benchmark for determining the registration fees and stamp duty. When a property transaction occurs, the guideline value is used to calculate the applicable duties based on the higher of the guideline value or the sale price.

During the registration process, the buyer must pay the stamp duty and registration fees calculated from the guideline value. This ensures that the property is officially recorded and that all legal requirements are met, providing security for both the buyer and seller.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 1st Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Nagar 1st Cross Street?

Thiruvalluvar Nagar 1st Cross Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Thiruvalluvar Nagar 1st Cross Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.