Guideline Value for Thirvalluvar Street

Thirvalluvar Street guideline value

The current guideline value for Thirvalluvar Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Thirvalluvar Street has changed

The guideline value for Thirvalluvar Street has seen several revisions over the years. In 2002, the guideline value was Rs 3,471 per sq.ft, which then decreased significantly to Rs 353 per sq.ft in 2003. Following this, the value increased to Rs 400 per sq.ft in 2007, and then rose dramatically to Rs 1,500 per sq.ft in 2012. However, it fell to Rs 1,005 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 1,500 per sq.ft in 2023 and then to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 52%. The changes between revisions include a 49% increase from 2017 to 2023 and a 275% increase from 2007 to 2012. Notably, there are no figures available for revisions prior to 2002 or after 2024 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Thirvalluvar Street.

• Thiru.Vi.Ka. Street: Rs 3,300 per sq.ft (2024)
• T.V.S. Fathima Street: Rs 2,200 per sq.ft (2024)
• T.V.S. Nagar: Rs 2,200 per sq.ft (2024)
• Vallalar Nagar Street: Rs 2,200 per sq.ft (2024)
• Vallimayil Market City: Rs 2,210 per sq.ft (2024)
• Thanthai Periyar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thirvalluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Thirvalluvar Street?

The Sub Registrar Office that covers Thirvalluvar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thirvalluvar Street?

The current guideline value of Thirvalluvar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 3,471 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various revisions in between.

What is the registration office for Thirvalluvar Street?

The registration office for Thirvalluvar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000.

What are the other streets in Naravarikuppam with their guideline values?

Other streets in Naravarikuppam include Thiru.Vi.Ka. Street at Rs 3,300 per sq.ft, T.V.S. Fathima Street at Rs 2,200 per sq.ft, and Thanthai Periyar Street at Rs 1,320 per sq.ft, among others.