Guideline Value for Thiruvalluvar Street (Extension)

Thiruvalluvar Street (Extension) guideline value

The current guideline value for Thiruvalluvar Street (Extension) in Madambakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Thiruvalluvar Street (Extension) has changed

The guideline value for Thiruvalluvar Street (Extension) has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

To summarize the changes: from 2012 to 2017, there was a decrease of 33%. However, the value increased significantly by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has risen by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, placing Thiruvalluvar Street (Extension) above this median.

• Thiruvalluvar Street - Ganapathy Nagar Link Road: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Thirumal Nagar: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Thirumalai Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street (Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Street (Extension)?

The Sub Registrar Office that covers Thiruvalluvar Street (Extension) is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is bought or sold, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable fees, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Street (Extension)?

The current guideline value for Thiruvalluvar Street (Extension) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with Thiruvalluvar Street (Extension) currently above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.