Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village under the Pammal SRO, classified as Residential Class IV 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 2017 revision set the value at Rs 1,005 per sq.ft, which was then increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant increase of 49%. The latest revision in 2024 has further raised the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Thiruvalluvar Street's 2024 figure below this median.

• Thiruperumal Nagar: Rs 2,750 per sq.ft (2024)
• Thirowpathi Amman Nagar: Rs 3,290 per sq.ft (2024)
• Thattakulam (ward 1): Rs 1,650 per sq.ft (2024)
• Vanniar Street: Rs 1,980 per sq.ft (2024)
• Suji Chamber: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 2,200 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important aspect when buying or selling property in Kolapakkam. It serves as a benchmark for the registration of property transactions and is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the other streets in Kolapakkam with their guideline values?

Other streets in Kolapakkam include Thiruperumal Nagar at Rs 2,750 per sq.ft, Thirowpathi Amman Nagar at Rs 3,290 per sq.ft, and Vanniar Street at Rs 1,980 per sq.ft, among others.

What is the stamp duty on property in Thiruvalluvar Street?

The stamp duty on property in Thiruvalluvar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500.

Where can I find the Sub Registrar Office for Thiruvalluvar Street?

The Sub Registrar Office for Thiruvalluvar Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the appropriate link.