Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value for Thiruvalluvar Nagar, located in Urur village under the Adayar SRO, is Rs 6,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 1,455 per sq.ft. This figure increased to Rs 1,720 per sq.ft in 2003, marking an increase of 18%. The value further rose to Rs 2,000 per sq.ft in 2007, which was a 16% increase. In 2012, the value was Rs 5,500 per sq.ft, reflecting a substantial increase of 175%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,100 per sq.ft in 2024, representing an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 319%. Notably, the register has no figure for the years between 2012 and 2017 for this street.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Thiruvalluvar Nagar is below this median.

• Thiruvalluvar Nagar 1st Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 6,100 per sq.ft (2024)
• Thinakothan Road: Rs 4,400 per sq.ft (2024)
• Theni Thottam: Rs 4,400 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 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, while the registration fee at 2% would be Rs 1,22,000. Together, the total cost for these fees would be Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Thiruvalluvar Nagar area falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Urur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay. When a property is sold, the higher amount between the guideline value and the sale price is considered for calculating these fees.

Understanding the guideline value helps both buyers and sellers ensure compliance with legal requirements during property transactions. It is essential to refer to the latest figures to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Nagar?

The current guideline value for Thiruvalluvar Nagar is Rs 6,100 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 1,455 per sq.ft in 2002 to Rs 6,100 per sq.ft in 2024, representing an overall increase of 319% over this period.

What are the stamp duty and registration fees for property in Thiruvalluvar Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 5,49,000 based on the current guideline value.

Which office handles property registrations for Thiruvalluvar Nagar?

The Adayar Sub Registrar Office handles property registrations for Thiruvalluvar Nagar, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for both buyers and sellers to refer to the latest guideline value to ensure accurate fee calculations.