Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO, classified as Residential Special Type - I.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 551 per sq.ft. This increased to Rs 605 per sq.ft in 2003, marking a 10% rise. By 2007, the guideline value jumped significantly to Rs 1,500 per sq.ft, reflecting a 148% increase. The value then rose to Rs 4,355 per sq.ft in 2017, which was a 333% increase from the previous revision.

In 2012, the guideline value was recorded at Rs 6,500 per sq.ft, but this represented a decrease of 33% from the 2017 figure. The value remained the same in 2023 at Rs 6,500 per sq.ft before increasing to Rs 7,100 per sq.ft in 2024, which is a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 1189%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the guideline value of Thiruvalluvar Nagar.

• Thiruvalluvar Street & Salai: Rs 8,800 per sq.ft (2024)
• Therkku Cross Street: Rs 3,300 per sq.ft (2024)
• Thenthirupathi Nagar: Rs 4,900 per sq.ft (2024)
• Tilak Street: Rs 7,100 per sq.ft (2024)
• T.M.P. Nagar Anna Street: Rs 5,500 per sq.ft (2024)
• T.M.P. Nagar Appar Street: Rs 3,800 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. It is important to note that 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 Sub Registrar Office that covers Thiruvalluvar Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mugappair. It is used to calculate the stamp duty and registration fees that are payable when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements during registration.

When a property is sold, the guideline value is considered to determine the applicable duties and fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 551 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 1189%.

What are the guideline values of other streets in Mugappair?

Other streets in Mugappair have varying guideline values, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft.

How is stamp duty calculated for properties in Thiruvalluvar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 7,100 per sq.ft, the stamp duty would be Rs 4,97,000.

Which office handles registrations for Thiruvalluvar Nagar?

The Konnur Sub Registrar Office handles registrations for Thiruvalluvar Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.