Guideline Value for Valluvar Nagar(Thaniaar)

Valluvar Nagar(Thaniaar) guideline value

The current guideline value of Valluvar Nagar(Thaniaar) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Valluvar Nagar(Thaniaar) has changed

The guideline value for Valluvar Nagar(Thaniaar) has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 192% rise. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,800 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 217%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Valluvar Nagar(Thaniaar) is below this median.

• Vaniar street (Oil Monger street): Rs 7,100 per sq.ft (2024)
• Varatharaj street: Rs 3,800 per sq.ft (2024)
• Vadamaracoir street: Rs 5,500 per sq.ft (2024)
• Velayudham street: Rs 3,800 per sq.ft (2024)
• Venkata Iyer lane: Rs 5,500 per sq.ft (2024)
• Venkata Iyer street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Nagar(Thaniaar)

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Valluvar Nagar(Thaniaar)?

The Sub Registrar Office that covers Valluvar Nagar(Thaniaar) is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the current market conditions and values.

Frequently asked questions

What is the current guideline value of Valluvar Nagar(Thaniaar)?

The current guideline value of Valluvar Nagar(Thaniaar) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 217% over this period.

What is the land classification for Valluvar Nagar(Thaniaar)?

The land classification for Valluvar Nagar(Thaniaar) is Residential Class III Type - II.

Where can I find the Sub Registrar Office for Valluvar Nagar(Thaniaar)?

The Sub Registrar Office for Valluvar Nagar(Thaniaar) is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is the stamp duty calculated for properties in Valluvar Nagar(Thaniaar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.