Guideline Value for Thiruvalluvar Salai

Thiruvalluvar Salai guideline value

The current guideline value of Thiruvalluvar Salai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Salai has changed

Over the years, the guideline value of Thiruvalluvar Salai has seen several revisions. The earliest recorded value was Rs 80 per sq.ft in 2002, which increased to Rs 100 per sq.ft in 2003, marking a 25% rise. By 2007, the value surged to Rs 250 per sq.ft, reflecting a significant increase of 150%. The next revision in 2012 saw the value at Rs 1,500 per sq.ft, which was a 500% increase from 2007. However, this figure dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024, an increase of 13% from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall increase from the 2002 revision to the current 2024 revision is a remarkable 2025%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Thiruvalluvar Salai is below this median.

• Thiruvalluvar Nagar 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 1,700 per sq.ft (2024)
• Thiru Vi. Ka .Street: Rs 1,700 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Salai?

The Sub Registrar Office that covers Thiruvalluvar Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable duties. Buyers and sellers should be aware that the registration process requires adherence to these guidelines to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Salai?

The current guideline value of Thiruvalluvar Salai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 80 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, representing a total increase of 2025% over the years.

What is the land classification for Thiruvalluvar Salai?

Thiruvalluvar Salai is classified as Residential Class III Type - I.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Thiruvalluvar Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.