Guideline Value for Sri Thiruvengadam Nagar

Sri Thiruvengadam Nagar guideline value

The current guideline value of Sri Thiruvengadam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Thiruvengadam Nagar has changed

The guideline value for Sri Thiruvengadam Nagar has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Sri Thiruvengadam Nagar.

• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Staling Avenue: Rs 2,200 per sq.ft (2024)
• Suji Chamber: Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar (ward 5): Rs 2,200 per sq.ft (2024)
• Sri Narayana Nagar: Rs 2,750 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Thiruvengadam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Thiruvengadam Nagar?

Sri Thiruvengadam Nagar falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Sri Thiruvengadam Nagar?

The current guideline value of Sri Thiruvengadam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the registration office for Sri Thiruvengadam Nagar?

The registration office for Sri Thiruvengadam Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is 2% of the guideline value.

Are there other streets with the same guideline value in Kolapakkam?

Yes, there are several other streets in Kolapakkam with the same guideline value of Rs 2,200 per sq.ft for 2024, including Sri Srinivasa Nagar, Staling Avenue, and Suji Chamber.