Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Madhavaram village, under the Madhavaram SRO, is Rs 1,600 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 seen several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 1,600 per sq.ft, representing a rise of 59%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 7% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Thiruvalluvar Street.

• Thiruvalluvar St, Lakshmipuram (Ward-25): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Street (Ward-25): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar St ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar Nagar (Ward-05): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar St ( Ward No.16 ): Rs 1,600 per sq.ft (2024)
• Thiruvalluvar St ( Ward No.25 ): Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is bought or sold, the guideline value is used to calculate the total fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as set by the registration authorities.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thiruvalluvar Street has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Street?

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

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

The Sub Registrar Office for Thiruvalluvar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total fees would amount to Rs 1,44,000.