Guideline Value for THENDRAL COLONY 2nd STREET

THENDRAL COLONY 2nd STREET guideline value

The current guideline value of THENDRAL COLONY 2nd STREET is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of THENDRAL COLONY 2nd STREET has changed

The guideline value for THENDRAL COLONY 2nd STREET has experienced several revisions over the years. The earliest figure available is from 2002, which was Rs 1,056 per sq.ft. This value increased to Rs 1,750 per sq.ft in 2007, marking a significant rise of 66%. The value then surged to Rs 6,000 per sq.ft in 2012, showing a remarkable increase of 243%. However, it decreased to Rs 4,020 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase again, reaching Rs 6,000 per sq.ft in 2023, and finally rose to Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2003.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing THENDRAL COLONY 2nd STREET above this median at Rs 6,600 per sq.ft.

• THENDRAL COLONY 1st STREET: Rs 6,600 per sq.ft (2024)
• THENDRAL COLONY 3rd STREET: Rs 6,600 per sq.ft (2024)
• THENDRAL COLONY 4th STREET: Rs 6,600 per sq.ft (2024)
• THENDRAL COLONY 5th STREET: Rs 6,600 per sq.ft (2024)
• Thanthoniamman Koil Street: Rs 3,300 per sq.ft (2024)
• THANTHONIAMMAN KOIL 3rd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in THENDRAL COLONY 2nd STREET

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers THENDRAL COLONY 2nd STREET?

The Sub Registrar Office covering THENDRAL COLONY 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process of property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process adheres to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of THENDRAL COLONY 2nd STREET?

The current guideline value of THENDRAL COLONY 2nd STREET is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,056 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 525%. The most recent increase was from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024.

What is the land classification for THENDRAL COLONY 2nd STREET?

THENDRAL COLONY 2nd STREET is classified as Residential Class II Type - II, which indicates its suitability for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Where is the Sub Registrar Office located for this street?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles registrations for properties in THENDRAL COLONY 2nd STREET.