Guideline Value for VALLUVAR THULASINGAM STREET

Valluvar Thulasingam Street guideline value

The current guideline value of Valluvar Thulasingam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Valluvar Thulasingam Street has changed

The guideline value for Valluvar Thulasingam Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 680 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 900 per sq.ft in 2007, reflecting a 32% increase. By 2012, the value reached Rs 3,000 per sq.ft, a significant jump of 233%. However, in 2017, it dropped to Rs 2,010 per sq.ft, showing a decline of 33%. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 64% increase from 2017.

The register has no figure for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 439%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Valluvar Thulasingam Street's 2024 guideline value is below this median.

• Vaniampathi Street: Rs 7,700 per sq.ft (2024)
• Valleswaran Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Valleeswaran Thottam: Rs 3,300 per sq.ft (2024)
• Vannan Medu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Thulasingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Valluvar Thulasingam Street?

The Sub Registrar Office that covers Valluvar Thulasingam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, understanding the guideline value helps ensure that all legal requirements are met and that the appropriate fees are paid. This is essential for a smooth transaction and for avoiding any potential legal issues in the future.

Frequently asked questions

What is the current guideline value of Valluvar Thulasingam Street?

The current guideline value of Valluvar Thulasingam Street is Rs 3,300 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 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 439% over the years.

What is the land classification of Valluvar Thulasingam Street?

Valluvar Thulasingam Street is classified as Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 2,97,000.