Guideline Value for Thiruvalluvar Nagar, 2nd Cross Street

Thiruvalluvar Nagar, 2nd Cross Street guideline value

The current guideline value for Thiruvalluvar Nagar, 2nd Cross Street is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thiruvalluvar Nagar, 2nd Cross Street has changed

The guideline value for Thiruvalluvar Nagar, 2nd Cross Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,507 per sq.ft. This increased to Rs 2,250 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the value at Rs 2,475 per sq.ft, reflecting a 10% increase from the previous year. The overall change from the 2017 to 2024 revisions is a substantial 64%.

It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012. This lack of data means that the guideline value history for Thiruvalluvar Nagar, 2nd Cross Street begins with the 2017 revision.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for the village is Rs 2,090 per sq.ft, placing the 2024 figure for Thiruvalluvar Nagar, 2nd Cross Street above this median.

• Thiruvalluvar Nagar, 1st Cross Street: Rs 2,475 per sq.ft (2024)
• Thiruvalluvar Nagar, 3rd Cross Street: Rs 2,475 per sq.ft (2024)
• Thiruvalluvar Nagar, 4th Cross Street: Rs 2,475 per sq.ft (2024)
• Thiruvalluvar 2nd Street, Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvalluar Street / Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar, 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, these fees total Rs 2,22,750. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar, 2nd Cross Street?

The Sub Registrar Office that covers Thiruvalluvar Nagar, 2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as the benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions and local regulations. This helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar, 2nd Cross Street?

The current guideline value for Thiruvalluvar Nagar, 2nd Cross Street is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,507 per sq.ft in 2017 to Rs 2,475 per sq.ft in 2024, which is a total increase of 64% over these years.

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

For a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250 and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

Which office handles registrations for Thiruvalluvar Nagar, 2nd Cross Street?

The Pammal Sub Registrar Office handles registrations for Thiruvalluvar Nagar, 2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for Pammal village?

The median guideline value for Pammal village is Rs 2,090 per sq.ft, with Thiruvalluvar Nagar, 2nd Cross Street's value being above this median at Rs 2,475 per sq.ft.