Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Padappai village is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 50 per sq.ft, which dramatically increased to Rs 750 per sq.ft in 2012, marking a rise of 1400%. However, this value decreased to Rs 502 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised it to Rs 750 per sq.ft, and the current revision for 2024 now stands at Rs 830 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that 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 1560%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the current guideline value of Thiruvalluvar Street.

• Thiru.Vi.Ka.Nagar: Rs 830 per sq.ft (2024)
• Thoppu Street: Rs 1,320 per sq.ft (2024)
• Three Star Nagar: Rs 3,300 per sq.ft (2024)
• Thiru.Subramani Nagar: Rs 830 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 830 per sq.ft (2024)
• Thavan Nagar: Rs 830 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees to Rs 74,700. It is important to note that the 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 Thiruvalluvar Street is covered by 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 Padappai

The guideline value plays a crucial role in property transactions in Padappai. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must consider the guideline value as it directly affects the overall cost of the transaction. Understanding the guideline value helps buyers and sellers make informed decisions 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 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024. The most notable increase was between 2007 and 2012, where it rose by 1400%.

What is the land classification for Thiruvalluvar Street?

Thiruvalluvar Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

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

How is stamp duty calculated for properties in Thiruvalluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,30,000 would incur a stamp duty of Rs 58,100 at 7%.