Guideline Value for Thriruvalluvar Street

Thriruvalluvar Street guideline value

The current guideline value of Thriruvalluvar Street in Thirumangalam village is Rs 605 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thriruvalluvar Street has changed

Over the years, the guideline value for Thriruvalluvar Street has undergone several revisions. In 2012, the guideline value was Rs 200 per sq.ft. This increased to Rs 405 per sq.ft in 2017, marking a 103% rise. The next revision in 2023 maintained the value at Rs 605 per sq.ft, which remained unchanged in the 2024 revision. It is noteworthy that the register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 203%. The current value of Rs 605 per sq.ft is equal to the median value of other streets in Thirumangalam for the year 2024.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO with guideline values ranging from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, which matches the guideline value of Thriruvalluvar Street. Here are some other streets in Thirumangalam:

• Union Street: Rs 400 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Vasuki Thirumana Mahal): Rs 1,750 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Palkarar Street): Rs 2,000 per sq.ft (2024)
• Thiruvallur Road (Annai Velanganni Nagar First Street to Kandigai): Rs 2,000 per sq.ft (2024)
• Velankanni Nagar: Rs 605 per sq.ft (2024)
• Walajabad Road: Rs 1,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thriruvalluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total cost for these fees to Rs 54,450. 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 details.

Which Sub Registrar Office covers Thriruvalluvar Street?

The Sub Registrar Office that covers Thriruvalluvar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property based on its location and classification. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thriruvalluvar Street?

The current guideline value of Thriruvalluvar Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 200 per sq.ft to Rs 605 per sq.ft in 2024, representing an overall increase of 203%.

What is the land classification for Thriruvalluvar Street?

Thriruvalluvar Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thriruvalluvar Street?

The Sub Registrar Office for Thriruvalluvar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thriruvalluvar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the guideline value.