Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village, falling under the jurisdiction of the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Thiruvalluvar Nagar has changed

Over the years, the guideline value of Thiruvalluvar Nagar has seen several revisions. In 2007, the guideline value was Rs 140 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017, before rising again to Rs 500 per sq.ft in both 2023 and 2024. Notably, there are no figures for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The guideline value increased by 257% from 2007 to 2012, and the overall change from 2007 to 2024 is also 257%.

Guideline values in Neelamangalam

In Neelamangalam village, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, placing Thiruvalluvar Nagar's 2024 figure below that median.

• Tulsi Nagar: Rs 1,300 per sq.ft (2024)
• Vamanan Nagar: Rs 500 per sq.ft (2024)
• S.V.P. Garden: Rs 500 per sq.ft (2024)
• Vanitha Square: Rs 1,300 per sq.ft (2024)
• Varadappa Naicker Nagar: Rs 500 per sq.ft (2024)
• Sundaram Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiruvalluvar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Neelamangalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers should be aware that the duty is charged based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value in Neelamangalam?

The median guideline value for the 41 streets in Neelamangalam is Rs 600 per sq.ft, with Thiruvalluvar Nagar's 2024 figure being below this median.

What are the stamp duty rates applicable in Thiruvalluvar Nagar?

The stamp duty rate for property transactions in Thiruvalluvar Nagar is 7%, with a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thiruvalluvar Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.