Guideline Value for Thiruvalluvar Road

Thiruvalluvar Road guideline value

The current guideline value of Thiruvalluvar Road in Nesapakkam village, under the Virugambakkam SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This value falls under the land classification of Residential Special Type - I.

How the guideline value of Thiruvalluvar Road has changed

The guideline value for Thiruvalluvar Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 500 per sq.ft. It increased to Rs 550 per sq.ft in 2003, marking a 10% rise. The following revision in 2007 saw a substantial jump to Rs 1,100 per sq.ft, representing a 100% increase. In 2012, the value rose to Rs 4,500 per sq.ft, which was a significant 309% increase from the previous revision. However, in 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value up to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,950 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 890%. There are no figures available for any revisions other than those specified for this street.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thiruvalluvar Road's 2024 guideline value above this median.

• Thiruvalluvar Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street lane: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 4,950 per sq.ft (2024)
• Thulasi Ammal Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Road?

The Sub Registrar Office that covers Thiruvalluvar Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nesapakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on the higher of the two.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value is regularly updated, and staying informed about these changes can help in accurately calculating the associated costs.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Road?

The current guideline value of Thiruvalluvar Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant increases and decreases. The most recent revision in 2024 saw an increase from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft.

What is the land classification for Thiruvalluvar Road?

Thiruvalluvar Road is classified as Residential Special Type - I, which is important for determining its guideline value and usage.

Where is the Sub Registrar Office for Thiruvalluvar Road located?

The Sub Registrar Office for Thiruvalluvar Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur specific fees based on the total guideline value.