Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills 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 figure is from 2007, set at Rs 200 per sq.ft. This value increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, it dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 500 per sq.ft, followed by another increase to Rs 550 per sq.ft in 2024, reflecting a 10% change from the previous year.

In summary, the guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, representing an overall increase of 175%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, indicating that Thiruvalluvar Street's 2024 figure is below this median.

• Thiru.vi.ka. Street: Rs 550 per sq.ft (2024)
• Thattara Street: Rs 550 per sq.ft (2024)
• Sun City Phase-V: Rs 950 per sq.ft (2024)
• Sri Vinayaga Avenue: Rs 550 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 660 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, these fees would total Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further assistance, 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 Sholavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various revisions in between, including Rs 500 per sq.ft in 2012 and Rs 335 per sq.ft in 2017.

What is the median guideline value for streets in Sholavaram?

The median guideline value for the 98 streets in Sholavaram is Rs 660 per sq.ft, which is higher than the current guideline value of Thiruvalluvar Street.

What fees are associated with property transactions in Thiruvalluvar Street?

For property transactions, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Thiruvalluvar Street located?

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