Guideline Value for Thiruvalluvar Nagar 3rd Main Road

Thiruvalluvar Nagar 3rd Main Road guideline value

The current guideline value of Thiruvalluvar Nagar 3rd Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar 3rd Main Road has changed

Over the years, the guideline value for Thiruvalluvar Nagar 3rd Main Road has undergone several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 17%.

Guideline values in Erukancherry

Within Erukancherry village, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Thiruvalluvar Nagar 3rd Main Road above this median.

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

Stamp duty and registration fee for property in Thiruvalluvar Nagar 3rd Main Road

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, resulting in a total of Rs 2,43,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar 3rd Main Road?

The Thiruvalluvar Nagar 3rd Main Road is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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 helps determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are collected. This value serves as a benchmark for property transactions within the area.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 3rd Main Road?

The current guideline value of Thiruvalluvar Nagar 3rd Main Road 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 land classification for Thiruvalluvar Nagar 3rd Main Road?

Thiruvalluvar Nagar 3rd Main Road is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7%, while the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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