Guideline Value for Thivuvalluvar Street

Thivuvalluvar Street guideline value

The current guideline value of Thivuvalluvar Street in Sembiam village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Thivuvalluvar Street has changed

The guideline value for Thivuvalluvar Street has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 416 per sq.ft in 2003, marking an 8% rise. The value further climbed to Rs 800 per sq.ft in 2007, reflecting a significant increase of 92%. By 2012, the value was Rs 2,500 per sq.ft, which was a 213% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. However, the value rebounded to Rs 2,500 per sq.ft in 2023, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, representing an 8% rise from the previous year.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the 2024 figure for Thivuvalluvar Street.

• Thitty Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thivuvalluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thivuvalluvar Street?

The Sub Registrar Office that covers Thivuvalluvar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Sembiam, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. This value serves as a benchmark for property transactions, influencing the financial aspects of buying or selling in the area.

Frequently asked questions

What is the current guideline value of Thivuvalluvar Street?

The current guideline value of Thivuvalluvar Street is Rs 2,700 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 384 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 603% over the years.

What is the land classification for Thivuvalluvar Street?

Thivuvalluvar Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations in the Sembiam area.

How is stamp duty calculated for properties in Thivuvalluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 2,700 per sq.ft would incur a stamp duty of Rs 1,89,000.