Guideline Value for THIRU NAGAR 24th STREET

THIRU NAGAR 24th STREET guideline value

The current guideline value of THIRU NAGAR 24th 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 falls under the Residential Class III Type - II land classification.

How the guideline value of THIRU NAGAR 24th STREET has changed

Over the years, the guideline value of THIRU NAGAR 24th STREET has seen significant changes. In 2007, the guideline value was Rs 1,750 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 157%. However, from 2012 to 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then surged to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase, before reaching the current figure of Rs 4,900 per sq.ft in the 2024 revision, which is a 9% rise.

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 guideline value is Rs 4,900 per sq.ft, which is equal to the 2024 figure for THIRU NAGAR 24th STREET.

• THIRU NAGAR 23rd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 25th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 22nd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 26th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 21st STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 27th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 24th 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, bringing the total 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers THIRU NAGAR 24th STREET?

THIRU NAGAR 24th STREET falls under the jurisdiction of 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 property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that the registration reflects a fair value based on the locality.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This value helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from these transactions.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 24th STREET?

The current guideline value of THIRU NAGAR 24th 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 significantly, increasing from Rs 1,750 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 180%.

What is the registration fee for property in THIRU NAGAR 24th STREET?

The registration fee for property in THIRU NAGAR 24th STREET is calculated at 2% of the guideline value. For a plot valued at Rs 49,00,000, the registration fee would be Rs 98,000.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated in Villivakkam?

Stamp duty in Villivakkam is charged at 7% of the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue based on the transaction's value.