Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Padiyanallur village, under the Redhills SRO, is Rs 770 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 undergone several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 171 per sq.ft. This value increased to Rs 400 per sq.ft in 2007, then rose significantly to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. In 2023, the value was revised to Rs 700 per sq.ft, and the latest revision in 2024 has increased it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. The value saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was notable at 75%, while the jump from 2003 to 2007 was a remarkable 134%. Overall, from 2003 to 2024, the guideline value has increased by 350%. The register does not have a figure for the year 2002 for this street.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current value for Thiruvalluvar Street.

• Thiyagaraya Street: Rs 770 per sq.ft (2024)
• Thiruvallur Nedunchalai (Upto Bridge): Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 660 per sq.ft (2024)
• Thilagar Street: Rs 770 per sq.ft (2024)
• Vadivel Nagar: Rs 1,320 per sq.ft (2024)
• Thangaiah Garden: 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, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. Please note that the duty is charged on the higher of the guideline value or the sale price. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Padiyanallur, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Proper understanding of the guideline value helps in making informed decisions during property dealings.

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 several times, starting from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% since 2003.

What are the stamp duty rates for property in Thiruvalluvar Street?

The stamp duty rate for property transactions in Thiruvalluvar Street is 7% of the guideline value or sale price, whichever is higher.

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

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

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, which is the same as the current guideline value for Thiruvalluvar Street.