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Guideline Value

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Guideline Value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension

₹2700/sq.ft.

The guideline value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension in Erukancherry village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Erukancherry

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2300 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thiruvalluvar Nagar 1st Main Road 2nd Street Extension

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Thiruvalluvar Nagar 1st Main Road 2nd Street Extension guideline value

The current guideline value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 1st Main Road 2nd Street Extension has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the value was Rs 2,300 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 27%. However, from 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects an increase of 8%. 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. The guideline value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension is above this median.

Stamp duty and registration fee for property in Thiruvalluvar Nagar 1st Main Road 2nd Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total amount Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar 1st Main Road 2nd Street Extension?

The Thiruvalluvar Nagar 1st Main Road 2nd Street Extension falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the necessary taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension?

The current guideline value for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension 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 to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as per the 2024 revision.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for this area?

The Madhavaram Sub Registrar Office handles property registrations for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for this street?

The land classification for Thiruvalluvar Nagar 1st Main Road 2nd Street Extension is Residential Class II Type - I.