Guideline Value for Thiruvalluvar Nagar Ist street

Thiruvalluvar Nagar Ist street guideline value

The current guideline value for Thiruvalluvar Nagar Ist street 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 street has changed

The guideline value for Thiruvalluvar Nagar Ist street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then revised to Rs 2,345 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 3,900 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 11% from the 2012 revision to the current 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. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Thiruvalluvar Nagar Ist street.

• Thiruvalluvar Nagar Ist lane: 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 street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, charged at 7%, would be Rs 2,73,000, and the registration fee, at 2%, would be Rs 78,000. Together, the total cost for stamp duty and registration fee would be Rs 3,51,000. It's 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar Ist street?

The Sub Registrar Office that covers Thiruvalluvar Nagar Ist 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price, with the higher of the two being used to calculate the stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar Ist street?

The current guideline value of Thiruvalluvar Nagar Ist street 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 seen several revisions: Rs 3,500 per sq.ft in 2012, Rs 2,345 per sq.ft in 2017, Rs 3,500 per sq.ft in 2023, and finally, Rs 3,900 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Nagar Ist street?

Thiruvalluvar Nagar Ist street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Thiruvalluvar Nagar Ist street?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For instance, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.