Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Sothupuruampedu village is Rs 220 per sq.ft, effective from 1 July 2024. This area 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 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 100% increase. However, in the 2017 revision, the value dropped to Rs 134 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 200 per sq.ft, and the latest revision in 2024 has set it at Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Sothupuruampedu

In Sothupuruampedu, there are 15 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 110 to Rs 500 per sq.ft. The median value is Rs 220 per sq.ft, which is the same as Thiruvalluvar Street's 2024 figure.

• Srinivasa Avenue: Rs 330 per sq.ft (2024)
• Sri Krishna Avenue: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Selva Kumaran Nagar-1: Rs 500 per sq.ft (2024)
• Sai Nagar: Rs 220 per sq.ft (2024)
• Muthialamman Koil Street: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 220 per sq.ft, the guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. 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 information.

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 Sothupuruampedu

The guideline value is crucial in determining the stamp duty and registration fees when buying or selling property in Sothupuruampedu. It serves as a benchmark for the transaction value, ensuring that the government receives the appropriate taxes based on the property's worth.

When registering a property, buyers must pay a stamp duty calculated on the higher of the guideline value or the sale price. This ensures that the registration process adheres to the legal framework established by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty rates for properties on Thiruvalluvar Street?

The stamp duty for properties on Thiruvalluvar Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Sothupuruampedu?

The Redhills Sub Registrar Office handles property registrations in Sothupuruampedu.

What is the land classification for Thiruvalluvar Street?

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