Guideline Value for THENGOOR SELVA VINAYAGAR KOIL STREET (TSV)

Thengoor Selva Vinayagar Koil Street (Tsv) guideline value

The current guideline value of Thengoor Selva Vinayagar Koil Street (Tsv) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Thengoor Selva Vinayagar Koil Street (Tsv) has changed

The guideline value for Thengoor Selva Vinayagar Koil Street (Tsv) has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,540 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a 322% rise. However, the value decreased to Rs 4,355 per sq.ft in 2017, which is a decline of 33%. The next revision in 2023 saw the value rise to Rs 6,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 361%. This illustrates the fluctuations in the guideline value over time, influenced by various factors.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Thengoor Selva Vinayagar Koil Street (Tsv) below the median with its current value of Rs 7,100 per sq.ft.

• Thiagarajan Puram: Rs 7,700 per sq.ft (2024)
• Thideer Nagar: Rs 3,300 per sq.ft (2024)
• Thejabai (Marvadi Thottam): Rs 3,300 per sq.ft (2024)
• Thippu Sahib Street: Rs 3,300 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thengoor Selva Vinayagar Koil Street (Tsv)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty, charged at 7%, amounts to Rs 4,97,000, while the registration fee at 2% is Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thengoor Selva Vinayagar Koil Street (Tsv)?

The Sub Registrar Office that covers Thengoor Selva Vinayagar Koil Street (Tsv) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the registration office will assess whether the guideline value or the sale price is higher, and the stamp duty will be calculated accordingly.

Additionally, the guideline value is updated periodically, reflecting changes in market conditions and property values. Buyers and sellers should be aware of these updates, as they can significantly affect the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Thengoor Selva Vinayagar Koil Street (Tsv)?

The current guideline value of Thengoor Selva Vinayagar Koil Street (Tsv) is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,540 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 361% over the years.

What is the classification of Thengoor Selva Vinayagar Koil Street (Tsv)?

Thengoor Selva Vinayagar Koil Street (Tsv) is classified as Residential Class IV Type - III.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Thengoor Selva Vinayagar Koil Street (Tsv), located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at 7%.