Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Thalakanancherry village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several changes over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, the value then decreased by 33% to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the most recent 2024 revision has increased it further to Rs 2,800 per sq.ft, marking a 12% rise from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Thiruvalluvar Street is below this median.

• Thiru V K Lane/Street: Rs 3,900 per sq.ft (2024)
• T.N.G.O. Colony 1st Main Road: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony 1st Street: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony 3rd Main Road: Rs 4,400 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 detailed calculations.

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 information.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the registration fees and stamp duty applicable.

When a property is sold, the registration office uses the guideline value to calculate the applicable taxes. This ensures that the government receives the correct revenue based on the property's assessed value, which is essential for maintaining transparency in real estate 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 from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 300% over the years.

What is the registration office for Thiruvalluvar Street?

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

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, with Thiruvalluvar Street's value being below this median.