Guideline Value for Thiruvalluvar Nagar

Thiruvalluvar Nagar guideline value

The current guideline value of Thiruvalluvar Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Thiruvalluvar Nagar has changed

The guideline value for Thiruvalluvar Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012. However, it dropped to Rs 1,742 per sq.ft in 2017. The value then rose to Rs 2,600 per sq.ft in 2023, and currently stands at Rs 2,860 per sq.ft as of the 2024 revision.

Notably, the change from 2023 to 2024 reflects a 10% increase. The value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. The remarkable rise from 2007 to 2012 was 333%, leading to an overall increase of 377% from 2007 to 2024.

Guideline values in Mogalivakkam

Mogalivakkam village has 98 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Thiruvalluvar Nagar's 2024 figure below this median.

• Thillai Nathamuni Avenue: Rs 2,860 per sq.ft (2024)
• Thillai Natarajan Avenue: Rs 2,860 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 2,860 per sq.ft (2024)
• T.V.Nagar: Rs 2,970 per sq.ft (2024)
• T.V.Nagar Extension: Rs 2,970 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 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 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total fees to Rs 2,57,400. 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 detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Nagar?

The Sub Registrar Office that covers Thiruvalluvar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions within Mogalivakkam. It determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value while negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar?

The current guideline value of Thiruvalluvar Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377% over the years.

What is the classification of land in Thiruvalluvar Nagar?

The land classification for Thiruvalluvar Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Thiruvalluvar Nagar.

How is stamp duty calculated for properties in Thiruvalluvar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,60,000 would incur a stamp duty of Rs 2,00,200.