Guideline Value for Thiruvalluvar St ( Ward No.16 )

Thiruvalluvar St ( Ward No.16 ) guideline value

The current guideline value for Thiruvalluvar St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar St ( Ward No.16 ) has changed

The guideline value for Thiruvalluvar St ( Ward No.16 ) has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, and Thiruvalluvar St ( Ward No.16 ) aligns with this median at Rs 1,600 per sq.ft.

• Thiruvalluvar St ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar St ( Ward No.25 ): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Street (Ward-25): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,600 per sq.ft (2024)
• Thiruvalluvar St, Lakshmipuram (Ward-25): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Nagar (Ward-05): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar St ( Ward No.16 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Thiruvalluvar St ( Ward No.16 )?

The Sub Registrar Office that covers Thiruvalluvar St ( Ward No.16 ) is 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 Madhavaram

The guideline value is a critical factor when buying or selling property in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government standards.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the higher amount between the guideline value and the sale price. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar St ( Ward No.16 )?

The current guideline value of Thiruvalluvar St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59% over this period.

What is the land classification for Thiruvalluvar St ( Ward No.16 )?

Thiruvalluvar St ( Ward No.16 ) is classified as Residential Class II Type - I according to the Madhavaram SRO guidelines.

What are the stamp duty and registration fees for a property in Thiruvalluvar St ( Ward No.16 )?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Thiruvalluvar St ( Ward No.16 ) located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.