Guideline Value for Thiruvalluvar Street

Thiruvalluvar Street guideline value

The current guideline value of Thiruvalluvar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has undergone several revisions over the years. In 2002, the guideline value was set at Rs 602 per sq.ft. This increased to Rs 658 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 1,100 per sq.ft in 2007, which was a 67% jump. By 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a decrease of 33% from the previous revision. In 2017, it rose to Rs 2,345 per sq.ft, which was a 49% increase from 2012. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in the years not listed above. Overall, from 2002 to 2024, the guideline value has increased by 540%.

Guideline values in Saligramam

Saligramam village has a total of 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Thiruvalluvar Street's 2024 figure below that median.

• Thiruvengadam Mudali Street: Rs 3,300 per sq.ft (2024)
• Thiruvengadam Swamy Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Sankaralingam Street: Rs 3,300 per sq.ft (2024)
• Tilaiyadi Valliammai Street: Rs 4,950 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)
• Thangal Karai Street: Rs 3,300 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to 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 detailed calculations.

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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 602 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 540% over this period.

What is the median guideline value in Saligramam?

The median guideline value in Saligramam is Rs 4,400 per sq.ft, which is higher than the current guideline value of Thiruvalluvar Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thiruvalluvar Street located?

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