Guideline Value for THANGAM COLONY "VIVEKANANDAR STREET"

Thangam Colony "vivekanandar Street" guideline value

The current guideline value for Thangam Colony "vivekanandar Street" is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thangam Colony "vivekanandar Street" has changed

The guideline value for Thangam Colony "vivekanandar Street" has seen significant changes over the years. In 2007, the guideline value was Rs 1,750 per sq.ft, which increased dramatically to Rs 11,000 per sq.ft in 2012, marking a rise of 529%. However, between 2012 and 2017, the value decreased by 33% to Rs 7,370 per sq.ft. The next revision in 2023 brought the value up to Rs 11,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 12,100 per sq.ft, reflecting a 10% increase from the previous year.

Looking at the overall changes, from 2007 to 2024, the guideline value has increased by 591%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Villivakkam

In Villivakkam, there are a total of 372 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Thangam Colony "vivekanandar Street" above this median.

• Thangam Colony "pillaiyar Koil Street": Rs 12,100 per sq.ft (2024)
• THANGAM COLONY " PILLAIYAR KOIL 3rd STREET": Rs 12,100 per sq.ft (2024)
• THANGAM COLONY " PILLAIYAR KOIL 2nd STREET": Rs 12,100 per sq.ft (2024)
• Thangam Colony "church Road": Rs 12,100 per sq.ft (2024)
• Thangam Colony "church Cross Street": Rs 12,100 per sq.ft (2024)
• Thangam Colony "adhi Sankarar Street": Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Colony "vivekanandar Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total fees to Rs 10,89,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Thangam Colony "vivekanandar Street"?

The Sub Registrar Office that covers Thangam Colony "vivekanandar Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam, as it determines the minimum value at which a property can be registered. This value is set by the government and is updated periodically to reflect market conditions.

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

Frequently asked questions

What is the current guideline value for Thangam Colony "vivekanandar Street"?

The current guideline value for Thangam Colony "vivekanandar Street" is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,750 per sq.ft to Rs 12,100 per sq.ft in 2024, reflecting a total increase of 591% over the years.

What is the land classification for Thangam Colony "vivekanandar Street"?

Thangam Colony "vivekanandar Street" is classified as Residential Class I Type - II.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Thangam Colony "vivekanandar Street"?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.