Guideline Value for Thiruvalluvarpuram

Thiruvalluvarpuram guideline value

The current guideline value of Thiruvalluvarpuram is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Thiruvalluvarpuram has changed

The guideline value for Thiruvalluvarpuram has seen significant changes over the years. In 2002, the guideline value was Rs 315 per sq.ft, which increased to Rs 388 per sq.ft in 2003, marking a 23% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 29% increase. The value then experienced a substantial jump to Rs 2,000 per sq.ft in 2012, which was a 300% increase from 2007. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The guideline value climbed again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024, indicating a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 598%. The register has no figure for this street for the years not mentioned above.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thiruvalluvarpuram's 2024 figure below that median.

• Thiruvalluvar Street: Rs 1,650 per sq.ft (2024)
• Thiruppur Kumaran street (Radha nagar): Rs 1,650 per sq.ft (2024)
• Thiruppur Kumaran street (G.S.T Road): Rs 6,600 per sq.ft (2024)
• Thiruvengada Nagar: Rs 2,200 per sq.ft (2024)
• Thiruneermalai Road: Rs 2,200 per sq.ft (2024)
• T.K. Chetty Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvarpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvarpuram?

The Sub Registrar Office that covers Thiruvalluvarpuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tambaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. The guideline value is regularly updated by the Registration Department, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Thiruvalluvarpuram?

The current guideline value of Thiruvalluvarpuram is Rs 2,200 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 315 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 598% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Thiruvalluvarpuram?

The Tambaram Joint 1 Sub Registrar Office covers Thiruvalluvarpuram, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that these costs are based on an official valuation rather than the sale price, which can vary.