Guideline Value for Thiruvalluvar Salai

Thiruvalluvar Salai guideline value

The current guideline value of Thiruvalluvar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it is classified as Commercial Class I Type - I.

How the guideline value of Thiruvalluvar Salai has changed

The guideline value for Thiruvalluvar Salai has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased by 10% to Rs 8,800 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline values over time. The 2024 figure of Rs 8,800 per sq.ft aligns with the median guideline value for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO, which ranges from Rs 4,400 to Rs 25,300 per sq.ft.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values across its streets. The current figure for Thiruvalluvar Salai matches the median value of Rs 8,800 per sq.ft. Below are other streets in Mylapore Part 1 with their respective guideline values:

• Thiruveethian Street: Rs 8,700 per sq.ft (2024)
• Thiruvalluvar Lane: Rs 8,700 per sq.ft (2024)
• Thomaiyappan Street: Rs 8,700 per sq.ft (2024)
• T.T.K.Lane: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Cross Street: Rs 14,300 per sq.ft (2024)
• TTK Road 1st Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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?

The Sub Registrar Office that covers Thiruvalluvar Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It is used to calculate the stamp duty and registration fees, which are mandatory for legalizing property ownership.

When buying or selling property, the guideline value serves as a reference point to ensure that the transaction is recorded accurately in the official registers. It is essential for both buyers and sellers to be aware of the current guideline values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai?

The current guideline value of Thiruvalluvar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,800 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Thiruvalluvar Salai?

Thiruvalluvar Salai is classified as Commercial Class I Type - I. This classification affects the guideline value and its application in property transactions.

What are the stamp duty and registration fees for properties in Thiruvalluvar Salai?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiruvalluvar Salai?

The Sub Registrar Office for Thiruvalluvar Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.