Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar, located in Zaminpallavaram village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has seen several revisions over the years. In 2003, the value was Rs 554 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This was followed by a significant rise to Rs 2,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and the current value is Rs 2,750 per sq.ft from July 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 396%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thiruvalluvar Nagar's guideline value is below this median.

• Thiruvalluvar High Road: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Nagar (Erikarai Ull Vai): Rs 2,750 per sq.ft (2024)
• Thiruthani Nagar: Rs 3,300 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiruvalluvar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 554 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 396% over the years.

What is the land classification for Thiruvalluvar Nagar?

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

Where can I find the Sub Registrar Office for Thiruvalluvar Nagar?

The Sub Registrar Office for Thiruvalluvar Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thiruvalluvar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.