Guideline Value for Thiruvalluvar Street 1st lane

Thiruvalluvar Street 1st lane guideline value

The current guideline value of Thiruvalluvar Street 1st lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thiruvalluvar Street 1st lane has changed

The guideline value for Thiruvalluvar Street 1st lane has seen several revisions over the years. In 2002, the value was Rs 299 per sq.ft, which increased to Rs 341 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 900 per sq.ft, reflecting a significant increase of 164%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, but this was a decrease of 289% from the previous revision. In 2017, the value again increased to Rs 2,345 per sq.ft, which was a 33% drop from the 2012 figure.

The most recent revisions show a steady increase, with the 2023 value set at Rs 3,500 per sq.ft, which then rose to Rs 3,900 per sq.ft in 2024, an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 1204%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Thiruvalluvar Street 1st lane.

• Thiruvalluvar Street 2nd Lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street 3rd Lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street 4th Lane: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Nagar(near M.K.N ROAD): Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Nagar Ist street: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. 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 detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Street 1st lane?

The Sub Registrar Office that covers Thiruvalluvar Street 1st lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

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

The current guideline value of Thiruvalluvar Street 1st lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 299 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1204% over the years.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Adambakkam?

The Alandur Sub Registrar Office handles property registrations for Thiruvalluvar Street 1st lane and is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thiruvalluvar Street 1st lane?

The land classification for Thiruvalluvar Street 1st lane is Residential Class I Type - III, indicating its suitability for residential purposes.