Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Kilkattalai village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 370 per sq.ft. This value increased to Rs 500 per sq.ft in 2007, followed by a significant jump to Rs 1,800 per sq.ft in 2012. However, in 2017, it decreased to Rs 1,206 per sq.ft. The value then rose to Rs 1,800 per sq.ft in 2023, and most recently, it has been set at Rs 1,980 per sq.ft in the 2024 revision.

In terms of changes, the guideline value increased by 35% from 2003 to 2007, followed by a 260% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a 49% increase, and the latest revision from 2023 to 2024 shows a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 435%.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, making Thiruvalluvar Street's current guideline value below that median.

• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 2,530 per sq.ft (2024)
• Thiruvenkadamudaiyan Street: Rs 2,530 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 2,160 per sq.ft (2024)
• Thirumurugan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair valuation of the property. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 1,980 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 370 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, with various increases and a decrease in 2017.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Thiruvalluvar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 19,80,000, the total fees would amount to Rs 1,78,200.

Which office handles the registration for Thiruvalluvar Street?

The registration for Thiruvalluvar Street is handled by the Pallavaram Sub Registrar Office, located in Chennai.