Guideline Value for Thiruvalluvar Nagar 5th Street

Thiruvalluvar Nagar 5th Street guideline value

The current guideline value of Thiruvalluvar Nagar 5th Street 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 5th Street has changed

The guideline value for Thiruvalluvar Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision then increased this value to Rs 2,500 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

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 guideline value for these streets is Rs 2,500 per sq.ft, making Thiruvalluvar Nagar 5th Street's current value above this median.

• Thiruvalluvar Nagar 60 Feet Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 5th Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 5th Link Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 6th Link Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar 5th 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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar 5th Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar 5th Street is 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 plays a crucial role during the registration of property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar 5th Street?

The current guideline value of Thiruvalluvar Nagar 5th 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 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification for Thiruvalluvar Nagar 5th Street?

Thiruvalluvar Nagar 5th Street is classified as Residential Class II Type - I.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on 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.