Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Grandlyon village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 500 per sq.ft. This value increased to Rs 700 per sq.ft in 2012, but then saw a significant drop to Rs 469 per sq.ft in 2017. Following this, the value saw a substantial rise to Rs 700 per sq.ft in 2023, and then further increased to the current value of Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 54%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Thiruvalluvar Street's 2024 figure above this median.

• Thiruppur Kumaran Street: Rs 770 per sq.ft (2024)
• Thiruneelakandar fourth Part: Rs 660 per sq.ft (2024)
• Thiruneelagandan Nagar: Rs 440 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 440 per sq.ft (2024)
• Thanikachalam Street: Rs 660 per sq.ft (2024)
• TamilNadu Dyes and Chemicals Merchants Association Nagar: Rs 660 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value helps in assessing the legal and financial obligations of the buyer and seller. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, with several revisions in between, including a drop to Rs 469 per sq.ft in 2017.

What is the land classification for Thiruvalluvar Street?

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

Where can I find the registration office for Thiruvalluvar Street?

The registration office for Thiruvalluvar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties on Thiruvalluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000, with stamp duty and registration fees calculated accordingly.