Guideline Value for New Thiru Vi.Ka Nagar

New Thiru Vi.Ka Nagar guideline value

The current guideline value of New Thiru Vi.Ka Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of New Thiru Vi.Ka Nagar has changed

The guideline value for New Thiru Vi.Ka Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 213%. Overall, from 2007 to 2024, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, which means that New Thiru Vi.Ka Nagar's 2024 figure is below that median.

• Oil Mill Street: Rs 6,000 per sq.ft (2024)
• Old Aduthotti Street: Rs 4,800 per sq.ft (2024)
• Nellukallari street: Rs 4,400 per sq.ft (2024)
• Nellichalladai Street: Rs 4,800 per sq.ft (2024)
• NehruTimber Market: Rs 13,200 per sq.ft (2024)
• Nehru Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Thiru Vi.Ka Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Thiru Vi.Ka Nagar?

The Sub Registrar Office that covers New Thiru Vi.Ka Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of New Thiru Vi.Ka Nagar?

The current guideline value of New Thiru Vi.Ka Nagar 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 several times, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an 8% rise. Overall, from 2007 to 2024, there has been a significant increase of 238%.

What are the stamp duty and registration fees for property in New Thiru Vi.Ka Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000. The stamp duty at 7% amounts to Rs 1,89,000, and the registration fee at 2% is Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers New Thiru Vi.Ka Nagar?

The Periamet Sub Registrar Office covers New Thiru Vi.Ka Nagar, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of New Thiru Vi.Ka Nagar?

New Thiru Vi.Ka Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.