Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Mudichur village, under the Padappai SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I 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 2012 revision set the guideline value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,600 per sq.ft, and the most recent 2024 revision has further raised it to Rs 1,760 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been a total increase of 10%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Thiruvalluvar Street's 2024 figure below this median.

• Thiru.Vi.Ka Street: Rs 2,200 per sq.ft (2024)
• Thirumalai Nagar: Rs 2,200 per sq.ft (2024)
• Theeraj Avenue: Rs 2,200 per sq.ft (2024)
• Vaigaraiammal Koil Street: Rs 1,210 per sq.ft (2024)
• Vallalar Street: Rs 1,210 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total cost of Rs 1,58,400. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office covering Thiruvalluvar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any disputes or issues during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Thiruvalluvar Street?

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

Where is the Sub Registrar Office for Thiruvalluvar Street located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.