Guideline Value for THIR.VI.K. NAGAR

Thir.VI.K. Nagar guideline value

The current guideline value of Thir.VI.K. Nagar in Thundalam village is Rs 1,870 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thir.VI.K. Nagar has changed

The guideline value for Thir.VI.K. Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,700 per sq.ft. This figure remained until the next revision in 2017, where it dropped to Rs 1,139 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,700 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no available figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, 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.VI.K. Nagar.

• Thir Vika Nagar Annexe: 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.VI.K. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, these fees would total Rs 1,68,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thir.VI.K. Nagar?

The Sub Registrar Office that covers Thir.VI.K. Nagar 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

The guideline value is a crucial factor during property registration in Thundalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps ensure that all parties involved in a property transaction are compliant with local regulations. It is advisable to verify the current guideline value before proceeding with any property dealings to avoid unexpected costs.

Frequently asked questions

What is the current guideline value of Thir.VI.K. Nagar?

The current guideline value of Thir.VI.K. Nagar 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 from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the stamp duty for a property in Thir.VI.K. Nagar?

The stamp duty for a property in Thir.VI.K. Nagar is 7% of the guideline value, which would be Rs 1,30,900 for a 1,000 sq.ft plot at the current rate.

Where is the Sub Registrar Office for Thir.VI.K. Nagar located?

The Sub Registrar Office for Thir.VI.K. Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to ensure compliance with local regulations.