Guideline Value for Thiruvalluvar Nagar 1st Street

Thiruvalluvar Nagar 1st Street guideline value

The current guideline value of Thiruvalluvar Nagar 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Thiruvalluvar Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 120% increase. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 5,500 per sq.ft in 2023, showing a 49% increase, and has now reached Rs 6,100 per sq.ft in the 2024 revision, which is an 11% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Adayar

Adayar village has a total of 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,100 per sq.ft, which is equal to the current figure for Thiruvalluvar Nagar 1st Street.

• Thiruvalluvar Nagar 2nd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 6,100 per sq.ft (2024)
• Thiru.Vi.Ka. Industrial Estate: Rs 7,200 per sq.ft (2024)
• Thulukkanathamman Kovil Street: Rs 6,600 per sq.ft (2024)
• Thandayudapani Nagar: Rs 9,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, while the registration fee at 2% would be Rs 1,22,000, making the total cost for these fees Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Nagar 1st Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Adayar. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is fair and transparent, reflecting the true value of the property being transacted.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Nagar 1st Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, showing an overall increase of 144% over the years.

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

For a property valued at Rs 61,00,000, the stamp duty would be Rs 4,27,000, and the registration fee would be Rs 1,22,000, totaling Rs 5,49,000.

Which office handles property registrations in Adayar?

The Adayar Sub Registrar Office at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20 handles property registrations in Adayar.

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

The land classification for Thiruvalluvar Nagar 1st Street is Residential Class II Type - I.