Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Thiruvalluvar Street has changed

Over the years, the guideline value for Thiruvalluvar Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 60 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017. The latest revisions in 2023 and 2024 show no change, maintaining the guideline value at Rs 600 per sq.ft.

Specifically, the transition from 2017 to 2023 saw a notable increase of 49%. The value remained unchanged from 2023 to 2024, while the overall change from 2007 to 2024 is a substantial increase of 900%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the guideline value of Thiruvalluvar Street.

• Thiruvalluvar Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road (Up to Anthaiya Naidu Nagar): Rs 1,800 per sq.ft (2024)
• Thiruvallur Road (Palkara Street To Arinjar Anna Street): Rs 2,000 per sq.ft (2024)
• Thornas Street: Rs 500 per sq.ft (2024)
• Vadivambal Nagar: Rs 600 per sq.ft (2024)
• VallaKottai Murugan Nagar: Rs 605 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Molachoor, the guideline value plays a critical role during the registration process. It is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

The guideline value serves as a benchmark to determine the minimum price at which a property can be registered. This ensures that transactions are recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Thiruvalluvar Street has seen several revisions, with the most significant change occurring from 2007 to 2012, where it increased from Rs 60 to Rs 600 per sq.ft. The value remained unchanged from 2023 to 2024.

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

In addition to Thiruvalluvar Street, other streets in Molachoor include Thiruvalluvar Nagar at Rs 300 per sq.ft, Thiruvallur Road (Up to Anthaiya Naidu Nagar) at Rs 1,800 per sq.ft, and Thiruvallur Road (Palkara Street To Arinjar Anna Street) at Rs 2,000 per sq.ft, among others.

What is the stamp duty rate for properties in Thiruvalluvar Street?

The stamp duty rate for properties in Thiruvalluvar Street is 7% of the guideline value or sale price, whichever is higher. This is combined with a registration fee of 2%.

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

The Sub Registrar Office for Thiruvalluvar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.