Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street in Nesapakkam village, under the Virugambakkam SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 293 per sq.ft. This increased to Rs 322 per sq.ft in 2003, marking a 10% rise. In 2007, the value saw a significant jump to Rs 1,100 per sq.ft, which is an increase of 242%. The 2012 revision brought the value to Rs 4,500 per sq.ft, reflecting a 309% increase from the previous revision. However, the guideline value decreased by 33% to Rs 3,015 per sq.ft in 2017.

In the subsequent revisions, the guideline value rose to Rs 4,500 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making Thiruvalluvar Street's 2024 figure above that median.

• Thiruvalluvar Road: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street lane: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 4,950 per sq.ft (2024)
• Thulasi Ammal Street: Rs 2,750 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 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is used to calculate these fees, ensuring that they are aligned with the official rates set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as per the established guidelines.

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 changed significantly from Rs 293 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1589% over the years.

What is the land classification for Thiruvalluvar Street?

The land classification for Thiruvalluvar Street is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 49,50,000, the stamp duty is Rs 3,46,500, and the registration fee is Rs 99,000, totaling Rs 4,45,500.

Which office handles the registration for Thiruvalluvar Street?

The Virugambakkam Sub Registrar Office handles the registration for Thiruvalluvar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.