Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

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

How the guideline value of Thiruvalluvar Street has changed

Over the years, the guideline value of Thiruvalluvar Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. However, the value significantly increased to Rs 1,800 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to 2023, the value jumped by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Thiruvalluvar Street's 2024 figure above this median.

• Tholkappiyar 1st cross Street: Rs 1,320 per sq.ft (2024)
• Tholkappiyar Street: Rs 1,320 per sq.ft (2024)
• T.K.Chidambaranar St: Rs 1,320 per sq.ft (2024)
• T.K. Chidambaranathan Street Extension: Rs 1,320 per sq.ft (2024)
• T.T.K. Nagar 1rd cross Road: Rs 2,750 per sq.ft (2024)
• T.T.K.Nagar 1st Main Road: Rs 2,750 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, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Peerklankaranai. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for formalizing the transaction.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Understanding this value helps in making informed decisions during property transactions.

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 from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Thiruvalluvar Street?

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

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

The Sub Registrar Office for Thiruvalluvar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Thiruvalluvar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,78,200.