Guideline Value for THIRU NAGAR 12th STREET

THIRU NAGAR 12th STREET guideline value

The current guideline value of THIRU NAGAR 12th STREET is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of THIRU NAGAR 12th STREET has changed

The guideline value for THIRU NAGAR 12th STREET has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,750 per sq.ft. It increased significantly to Rs 4,500 per sq.ft in 2012, but then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value rose to Rs 4,500 per sq.ft in 2023 and reached Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 180%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is the same as the current value for THIRU NAGAR 12th STREET.

• THIRU NAGAR 11th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 13th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 10th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 14th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 15th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 16th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 12th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers THIRU NAGAR 12th STREET?

The Sub Registrar Office that covers THIRU NAGAR 12th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering properties in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 12th STREET?

The current guideline value of THIRU NAGAR 12th STREET is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 180% over this period.

What is the land classification for THIRU NAGAR 12th STREET?

THIRU NAGAR 12th STREET is classified as Residential Class III Type - II.

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 example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,41,000.

Where is the Sub Registrar Office for THIRU NAGAR 12th STREET located?

The Sub Registrar Office for THIRU NAGAR 12th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.