Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Nanganallur village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street 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. In 2002, the value was Rs 335 per sq.ft, which increased to Rs 381 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting an 84% increase. By 2012, the guideline value was Rs 2,500 per sq.ft, a substantial increase of 257% from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the value increased to Rs 2,500 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, representing a 12% increase from the previous year. The register has no figures for revisions prior to 2002 or any years not listed.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Thiruvalluvar Street's 2024 figure below that median.

• T N G O Colony 1st Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 4th Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 5th Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 6th Street: Rs 3,900 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Nanganallur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

During the registration process, buyers and sellers need to be aware that the stamp duty is calculated on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 2,800 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 335 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting a total increase of 736% over the years.

What are the stamp duty and registration fees for properties on Thiruvalluvar Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 2,52,000.

Which office handles registrations for Thiruvalluvar Street?

The Alandur Sub Registrar Office handles registrations for Thiruvalluvar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.