Guideline Value for THIRU NAGAR 13th STREET

THIRU NAGAR 13th STREET guideline value

The current guideline value for THIRU NAGAR 13th 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 13th STREET has changed

The guideline value for THIRU NAGAR 13th STREET has seen significant changes over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. From 2017 to 2023, the value rose sharply by 49% to reach Rs 4,500 per sq.ft, and the latest revision in 2024 set the value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

It is important to note that the register has no figures for the years 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 value is Rs 4,900 per sq.ft, which is equal to the current guideline value of THIRU NAGAR 13th STREET.

• THIRU NAGAR 12th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 14th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 11th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 15th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 10th 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 13th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers THIRU NAGAR 13th STREET?

THIRU NAGAR 13th STREET falls under 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 critical factor in the registration process for property transactions in Villivakkam. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling a property, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 13th STREET?

The current guideline value of THIRU NAGAR 13th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers THIRU NAGAR 13th STREET?

THIRU NAGAR 13th STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of THIRU NAGAR 13th STREET?

THIRU NAGAR 13th STREET is classified as Residential Class III Type - II.