Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and 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. Starting from Rs 256 per sq.ft in 2002, it increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 750 per sq.ft in 2007, which was a 134% increase. In 2012, it reached Rs 3,500 per sq.ft, reflecting a 367% increase from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value increased again to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,404%. There are no figures available for revisions in years not mentioned in the register.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value of Thiruvalluvar Street.

• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)
• Ussain Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thadikara Swamy Street: Rs 3,850 per sq.ft (2024)
• Valluvar Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% amounts to Rs 2,69,500, while the registration fee at 2% is Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees payable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable charges. It is essential to be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing a significant overall increase of 1,404% over this period.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class II Type - I according to the Chennai South Joint II SRO.

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

For a 1,000 sq.ft plot, the guideline value is Rs 38,50,000, leading to a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Thiruvalluvar Street located?

The Sub Registrar Office for Thiruvalluvar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.