Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen significant changes over the years. In 2002, the guideline value was Rs 343 per sq.ft, which increased to Rs 385 per sq.ft in 2003, marking a 12% rise. The value then saw a substantial jump to Rs 3,015 per sq.ft in 2017, reflecting a remarkable increase of 683%. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, representing a 64% increase from the 2017 figure.

There are no figures available for the years 2007, 2012, and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1343%, highlighting the notable changes in property valuation over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, positioning Thiruvalluvar Street's 2024 guideline value above the median.

• Thiruveedhiamman Koil Street: Rs 4,400 per sq.ft (2024)
• Thiruveethi Amman Koil 1st Street: Rs 4,400 per sq.ft (2024)
• Thiruveethi Amman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Thiruveethiamman Koil 3rd Street: Rs 4,400 per sq.ft (2024)
• Thiru.V.K.Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Lane - I: Rs 3,850 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

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

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 Velachery, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 343 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1343%.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, while Thiruvalluvar Street's value is above this median.

What are the stamp duty and registration fees for property in Thiruvalluvar Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 3,46,500, and the registration fee is Rs 99,000, totaling Rs 4,45,500 based on the current guideline value.

Where is the Sub Registrar Office for Thiruvalluvar Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.