Guideline Value for Thiruvalluvar Nagar 3rd Cross Street

Thiruvalluvar Nagar 3rd Cross Street guideline value

The current guideline value of Thiruvalluvar Nagar 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 3rd Cross Street has changed

The guideline value for Thiruvalluvar Nagar 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,300 per sq.ft. In 2017, this value decreased to Rs 1,675 per sq.ft, marking a decline of 27%. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and further increased to the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 17%. The register has no figure for the years 2002, 2003, and 2007 for this street.

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. The median value among these streets is Rs 2,500 per sq.ft, making the 2024 figure for Thiruvalluvar Nagar 3rd Cross Street above that median.

• Thiruvalluvar Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Main Road 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Main Road 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 30 Feet Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. 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 precise calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 3rd Cross Street?

The Thiruvalluvar Nagar 3rd Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar 3rd Cross Street?

The current guideline value for Thiruvalluvar Nagar 3rd Cross Street 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, while Thiruvalluvar Nagar 3rd Cross Street's value is above this median.

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

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.