Guideline Value for Thiruvalluvar Nagar 2nd Street

Thiruvalluvar Nagar 2nd Street guideline value

The current guideline value of Thiruvalluvar Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Kottur village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thiruvalluvar Nagar 2nd Street has changed

The guideline value for Thiruvalluvar Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 3,015 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street. The 2023 revision increased the value to Rs 4,500 per sq.ft, marking a 49% rise from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. This indicates a significant change in the guideline values over the years, with the most recent figure being the highest recorded for this street.

Guideline values in Kottur

In Kottur, there are 114 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, placing Thiruvalluvar Nagar 2nd Street's 2024 figure below that median.

• Thiruvalluvar Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Thiruvengadam Street: Rs 8,800 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 5,000 per sq.ft (2024)
• Upparpalayam Anna Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. Please note that the 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 details.

Which Sub Registrar Office covers Thiruvalluvar Nagar 2nd Street?

The Thiruvalluvar Nagar 2nd Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 2nd Street?

The current guideline value of Thiruvalluvar Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024, an increase of 11%. It was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012, showing various increases and decreases over the years.

What is the land classification for Thiruvalluvar Nagar 2nd Street?

Thiruvalluvar Nagar 2nd Street is classified as Residential Class IV Type - II, which indicates its use for residential purposes.

What is the stamp duty rate for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the area.