Guideline Value for THIRU NAGAR 28th STREET

THIRU NAGAR 28th STREET guideline value

The current guideline value of THIRU NAGAR 28th 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 28th STREET has changed

The guideline value for THIRU NAGAR 28th STREET has seen several revisions over the years. 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 significant rise of 157%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, reflecting a 9% increase from the previous year.

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 value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of THIRU NAGAR 28th STREET.

• THIRU NAGAR 27th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 29th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 26th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 25th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 2nd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 24th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 28th 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 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 28th STREET?

THIRU NAGAR 28th STREET falls under 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 when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value is used to ensure compliance with legal requirements and to assess the appropriate taxes. Understanding the guideline value is essential for anyone looking to navigate the property market in Villivakkam.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 28th STREET?

The current guideline value of THIRU NAGAR 28th 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 the years.

What is the stamp duty for a property in THIRU NAGAR 28th STREET?

The stamp duty for a property in THIRU NAGAR 28th STREET is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,43,000.

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.

What is the land classification of THIRU NAGAR 28th STREET?

THIRU NAGAR 28th STREET is classified as Residential Class III Type - II.