Guideline Value for THIR VIKA NAGAR ANNEXE

Thir Vika Nagar Annexe guideline value

The current guideline value of Thir Vika Nagar Annexe is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Thundalam village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Thir Vika Nagar Annexe has changed

Over the years, the guideline value of Thir Vika Nagar Annexe has undergone several revisions. The 2007 revision recorded a guideline value of Rs 544 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in the 2012 revision. However, this figure decreased to Rs 1,139 per sq.ft in the 2017 revision. The 2023 revision saw a notable increase to Rs 1,700 per sq.ft, followed by the current 2024 revision, which raised the value to Rs 1,870 per sq.ft.

In terms of percentage changes, the guideline value increased by 213% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 244%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thundalam

In Thundalam village, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, which is the same as the current value for Thir Vika Nagar Annexe.

• Thir.VI.K. Nagar: Rs 1,870 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Thiruveethi Amman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• T.V.K. Nagar Main 1st Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Iiird Street: Rs 1,980 per sq.ft (2024)
• T.Vk. Nagar Main Iind Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Thir Vika Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value is Rs 18,70,000. The stamp duty at 7% amounts to Rs 1,30,900, and the registration fee at 2% is Rs 37,400, bringing the total to Rs 1,68,300. 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 further calculations.

Which Sub Registrar Office covers Thir Vika Nagar Annexe?

The Sub Registrar Office that covers Thir Vika Nagar Annexe is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Thundalam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the registration department and serves as a benchmark for property transactions.

During the registration process, buyers and sellers must consider the guideline value, as the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thir Vika Nagar Annexe?

The current guideline value of Thir Vika Nagar Annexe is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 544 per sq.ft in 2007 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 244% over the years.

What is the land classification for Thir Vika Nagar Annexe?

The land classification for Thir Vika Nagar Annexe is Residential Class IV Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Thir Vika Nagar Annexe is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Where can I find more information about the SRO?

More information about the Sub Registrar Office can be found by visiting the find your SRO link.