Guideline Value for Valluvar Street (Thiru Nagar)

Valluvar Street (Thiru Nagar) guideline value

The current guideline value of Valluvar Street (Thiru Nagar) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Valluvar Street (Thiru Nagar) has changed

The guideline value of Valluvar Street (Thiru Nagar) has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33% from the previous revision.

From 2017 to 2023, the guideline value increased to Rs 4,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, making Valluvar Street's 2024 figure below that median.

• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Valliammal Nagar: Rs 4,900 per sq.ft (2024)
• Vallal Pari Street: Rs 3,300 per sq.ft (2024)
• Vannan Street: Rs 2,700 per sq.ft (2024)
• Vallalar Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Vallalar Street (J.Pet): Rs 4,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Valluvar Street (Thiru Nagar)?

The Sub Registrar Office that covers Valluvar Street (Thiru Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

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

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Valluvar Street (Thiru Nagar) is Rs 4,400 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 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Valluvar Street (Thiru Nagar)?

The land classification for Valluvar Street (Thiru Nagar) is Residential Class III Type - III.

Which Sub Registrar Office covers Valluvar Street (Thiru Nagar)?

The Ashok Nagar Sub Registrar Office covers Valluvar Street (Thiru Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties on Valluvar Street (Thiru Nagar)?

Stamp duty is 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 guideline value, the total stamp duty would be Rs 3,08,000.