Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Kanagam village, under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen significant changes over the years. In 2002, the guideline value was Rs 165 per sq.ft, which increased to Rs 425 per sq.ft in 2003, marking a rise of 158%. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, a substantial increase of 135%. By 2012, the value was Rs 3,000 per sq.ft, but this represented a decrease of 33% from the previous revision. The value then increased to Rs 2,010 per sq.ft in 2017, reflecting a growth of 49% from 2012. The most recent revisions show the guideline value at Rs 3,000 per sq.ft in 2023, followed by a 10% increase to Rs 3,300 per sq.ft in 2024.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1900%.

Guideline values in Kanagam

In Kanagam village, there are 15 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 13,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. Thiruvalluvar Street's 2024 guideline value is above this median.

• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Periyar Street: Rs 2,800 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,900 per sq.ft (2024)
• Lal Bahadur Street: Rs 2,800 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Kanagam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value acts as a benchmark. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 3,300 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 165 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1900% over the years.

What is the land classification for Thiruvalluvar Street?

The land classification for Thiruvalluvar Street is Residential Class II Type - I.

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 sale price, whichever is higher.

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

The Sub Registrar Office covering Thiruvalluvar Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.