Guideline Value for Thiruvalluvar Street 2nd Lane

Thiruvalluvar Street 2nd Lane guideline value

The current guideline value of Thiruvalluvar Street 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Thiruvalluvar Street 2nd Lane has changed

The guideline value for Thiruvalluvar Street 2nd Lane has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 299 per sq.ft. This increased to Rs 341 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 650 per sq.ft in 2007, which was an increase of 91%. In 2012, the value rose to Rs 3,500 per sq.ft, reflecting a remarkable 438% increase from the previous figure. However, it dropped to Rs 2,345 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,900 per sq.ft, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,204%. The register has no figure for Thiruvalluvar Street for the years not listed in the revisions.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value 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 current value of Thiruvalluvar Street 2nd Lane.

• Thiruvalluvar Street 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiruvalluvar Street 2nd Lane?

The Sub Registrar Office that covers Thiruvalluvar Street 2nd 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 details.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This ensures transparency and fairness in the registration process, as the guideline value is used to determine the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street 2nd Lane?

The current guideline value of Thiruvalluvar Street 2nd 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 from Rs 299 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,204% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Thiruvalluvar Street 1st lane, Thiruvalluvar Street 3rd Lane, Thiruvalluvar Street 4th Lane, Thiruvalluvar Street (Nilamangai Nagar), Thiruvalluvar Nagar (near M.K.N ROAD), and Thiruvalluvar Nagar Ist street.