Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Ullagaram 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 - I land classification.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. In 2002, the value was Rs 234 per sq.ft, which increased to Rs 262 per sq.ft in 2003. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, followed by a decrease to Rs 2,500 per sq.ft in 2012. The next revision in 2017 set the value at Rs 1,675 per sq.ft, and it increased to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,800 per sq.ft.

In terms of percentage changes, the value increased by 12% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while it increased by 150% from 2007 to 2012. From 2003 to 2007, the increase was significant at 282%, and there was a 12% rise from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1097%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current value of Thiruvalluvar Street.

• Thomas Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Throwpathi Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Thilagar Street: Rs 2,200 per sq.ft (2024)
• Ullagaram puzhudivakkam Joining Road: Rs 3,900 per sq.ft (2024)
• Union carbide Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 2nd 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. The duty is charged on the higher of the guideline value or 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 Ullagaram

When buying or selling property in Ullagaram, the guideline value is used to determine the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property transactions in the area.

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 several times, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, a change of 12%.

What is the land classification of Thiruvalluvar Street?

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

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.