Guideline Value for THIRU NAGAR 18th STREET

THIRU NAGAR 18th STREET guideline value

The current guideline value of THIRU NAGAR 18th 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 18th STREET has changed

The guideline value for THIRU NAGAR 18th STREET has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, which was then raised to Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 180%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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, with the median being Rs 4,900 per sq.ft. The guideline value of THIRU NAGAR 18th STREET aligns with this median.

• THIRU NAGAR 17th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 19th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 16th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 15th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 1st STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 14th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 18th 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 be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers THIRU NAGAR 18th STREET?

THIRU NAGAR 18th STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 in property transactions in Villivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions and is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 18th STREET?

The current guideline value of THIRU NAGAR 18th 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, marking an overall increase of 180% over the years.

What is the role of the Villivakkam SRO?

The Villivakkam SRO is responsible for the registration of property transactions in the Villivakkam area, ensuring compliance with local regulations and maintaining official records.

How is stamp duty calculated for properties in THIRU NAGAR 18th STREET?

Stamp duty for properties in THIRU NAGAR 18th STREET is calculated at 7% of the guideline value or the sale price, whichever is higher.

What other streets in Villivakkam have the same guideline value?

Other streets in Villivakkam that share the same guideline value of Rs 4,900 per sq.ft include THIRU NAGAR 17th STREET, THIRU NAGAR 19th STREET, THIRU NAGAR 16th STREET, THIRU NAGAR 15th STREET, THIRU NAGAR 1st STREET, and THIRU NAGAR 14th STREET.