Guideline Value for THIRU NAGAR 2nd STREET

THIRU NAGAR 2nd STREET guideline value

The current guideline value of THIRU NAGAR 2nd 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 2nd STREET has changed

The guideline value for THIRU NAGAR 2nd STREET has experienced several revisions over the years. The 2007 revision set the value at Rs 1,750 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 157%. However, the value then decreased to Rs 3,015 per sq.ft in the 2017 revision, a decline of 33%. The value rose again to Rs 4,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,900 per sq.ft in the 2024 revision, representing a 9% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 180%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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. The median guideline value for these streets is Rs 4,900 per sq.ft, making THIRU NAGAR 2nd STREET's 2024 figure equal to this median.

• THIRU NAGAR 29th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 30th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 28th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 31st STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 27th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 32nd STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 2nd 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, while the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers THIRU NAGAR 2nd STREET?

THIRU NAGAR 2nd 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 when registering property in Villivakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the registration process. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 2nd STREET?

The current guideline value of THIRU NAGAR 2nd 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, with various increases and decreases in between. The most significant increase was from 2012 to 2017, where it decreased by 33%, and then it increased by 49% from 2017 to 2023.

What are the other streets in Villivakkam with the same guideline value?

Other streets in Villivakkam that share the same guideline value of Rs 4,900 per sq.ft include THIRU NAGAR 29th STREET, THIRU NAGAR 30th STREET, THIRU NAGAR 28th STREET, THIRU NAGAR 31st STREET, THIRU NAGAR 27th STREET, and THIRU NAGAR 32nd STREET.

How is stamp duty calculated for properties in THIRU NAGAR 2nd STREET?

Stamp duty for properties in THIRU NAGAR 2nd STREET is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,43,000.

Where can I find the Sub Registrar Office for THIRU NAGAR 2nd STREET?

The Sub Registrar Office covering THIRU NAGAR 2nd STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the relevant website.