Guideline Value for Thiruvalluvar Nagar 2nd Street

Thiruvalluvar Nagar 2nd Street guideline value

The current guideline value of Thiruvalluvar Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO and is classified as Residential Class IV Type - I.

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

The guideline value for Thiruvalluvar Nagar 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a substantial increase to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, which is a 10% rise.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thiruvalluvar Nagar 2nd Street's 2024 figure is below this median.

• Thiruvalluvar Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar Extension: Rs 2,700 per sq.ft (2024)
• Thirupugal Nagar: Rs 2,700 per sq.ft (2024)
• Thiruveedhiamman Koil 1st Cross Street: Rs 2,200 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 rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kolathur. It is used to calculate the stamp duty and registration fees that buyers must pay when registering a property. This value is determined by the government and is updated periodically to reflect changes in the market.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for Thiruvalluvar Nagar 2nd Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Thiruvalluvar Nagar 2nd Street.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is crucial for ensuring that the appropriate fees are paid based on the higher of the guideline value or the sale price.