Guideline Value for THEERAN SIVALINGAM STREET

Theeran Sivalingam Street guideline value

The current guideline value of Theeran Sivalingam Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Theeran Sivalingam Street has changed

The guideline value for Theeran Sivalingam Street has seen several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, in the 2017 revision, it was adjusted down to Rs 536 per sq.ft, before rising again to Rs 800 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 540% from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2024.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Theeran Sivalingam Street's 2024 figure below that median.

• Thangavel Reddy Street: Rs 1,300 per sq.ft (2024)
• Thilakar Street: Rs 800 per sq.ft (2024)
• Thangadurai Street: Rs 800 per sq.ft (2024)
• Sundaram Street: Rs 1,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)
• Subramania Siva Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Theeran Sivalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. 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 on applicable fees.

Which Sub Registrar Office covers Theeran Sivalingam Street?

Theeran Sivalingam Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It is the minimum value set by the government for properties, ensuring that the sale price is not undervalued during registration.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Theeran Sivalingam Street?

The current guideline value of Theeran Sivalingam Street is Rs 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 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, marking an overall increase of 540% across the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Which office handles registrations for Theeran Sivalingam Street?

The Manavalanagar Sub Registrar Office handles registrations for Theeran Sivalingam Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value for property transactions, ensuring that stamp duty and registration fees are calculated fairly during the sale or purchase of property.