Guideline Value for Thiruvalluvar Salai 1st Cross Street

Thiruvalluvar Salai 1st Cross Street guideline value

The current guideline value for Thiruvalluvar Salai 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Thiruvalluvar Salai 1st Cross Street has changed

The guideline value for Thiruvalluvar Salai 1st Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,700 per sq.ft, marking a significant increase of 35% from the 2012 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. The only revisions available are from 2012 and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value for Thiruvalluvar Salai 1st Cross Street.

• Thiruvalluvar Salai 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar Main Road Joint Salai: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Main Road: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Salai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost together to Rs 2,43,000. 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 Salai 1st Cross Street?

The Thiruvalluvar Salai 1st Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value will be compared to the sale price, and the higher value will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai 1st Cross Street?

The current guideline value for Thiruvalluvar Salai 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking a 35% increase. There are no recorded figures for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Thiruvalluvar Salai 1st Cross Street?

Thiruvalluvar Salai 1st Cross Street is classified as Residential Class I Type - I. This classification is important for understanding the potential uses of the land.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,43,000 in fees.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.