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 Adambakkam village and falls under the Alandur SRO. The land classification for this street is Residential Class I Type - I.

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 then decreased to Rs 3,015 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 5,000 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From 2017 to 2023, there was a 49% increase in the guideline value. Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 11%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, indicating that Thiruvalluvar Nagar 2nd street's 2024 figure is above this median.

• Thiruvalluvar Nagar 2nd lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd street: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Main Road 5th St Main: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Main Road 3rd Street: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Main Road 2nd Street: Rs 3,900 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 amounts to Rs 50,00,000. The stamp duty, charged at 7%, would be Rs 3,50,000, and the registration fee, charged at 2%, would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. 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 2nd street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 2nd street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of properties in Adambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable, ensuring that these costs are calculated based on the official value set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall costs involved in property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

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 undergone several revisions, with the most recent increase from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024. The value has seen significant changes, including a 49% increase from 2017 to 2023.

What is the land classification of Thiruvalluvar Nagar 2nd street?

Thiruvalluvar Nagar 2nd street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the registration office for this area?

The registration office for Thiruvalluvar Nagar 2nd street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 3,50,000.