Guideline Value for Thiruvalluvar Nagar Ist lane

Thiruvalluvar Nagar Ist lane guideline value

The current guideline value for Thiruvalluvar Nagar Ist lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thiruvalluvar Nagar Ist lane has changed

The guideline value for Thiruvalluvar Nagar Ist lane has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,500 per sq.ft in 2023 and further rose to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 11%.

In the years 2002, 2003, and 2007, the register has no figure for this street. The significant changes include a 49% increase from the 2017 revision to the 2023 revision, while the 2012 to 2017 period saw a decrease of 33% in the guideline value.

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, with the median being Rs 3,900 per sq.ft. The guideline value for Thiruvalluvar Nagar Ist lane matches this median value.

• Thiruvalluvar Nagar Ist street: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Nagar Annex: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar(near M.K.N ROAD): Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street 1st lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street 2nd Lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street 3rd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar Ist lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total amount payable Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Nagar Ist lane?

The Thiruvalluvar Nagar Ist lane falls under the jurisdiction of 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 information.

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

The guideline value is an essential factor in the registration process of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar Ist lane?

The current guideline value for Thiruvalluvar Nagar Ist lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it from Rs 3,500 per sq.ft in 2023. The value has also seen a significant rise from Rs 2,345 per sq.ft in 2017.

What is the land classification for Thiruvalluvar Nagar Ist lane?

Thiruvalluvar Nagar Ist lane is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Thiruvalluvar Nagar Ist lane is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the registration office for Thiruvalluvar Nagar Ist lane?

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