Guideline Value for THIRU NAGAR 31st STREET

THIRU NAGAR 31st STREET guideline value

The current guideline value of THIRU NAGAR 31st 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 31st STREET has changed

Since the 2007 revision, the guideline value for THIRU NAGAR 31st STREET has seen significant changes. In 2007, the value was Rs 1,750 per sq.ft, which increased by 157% to Rs 4,500 per sq.ft in 2012. However, it then decreased by 33% to Rs 3,015 per sq.ft in 2017. The value rose sharply by 49% to Rs 4,500 per sq.ft in 2023, and further increased by 9% to the current value of Rs 4,900 per sq.ft in 2024.

It is important to note that there are no figures available for THIRU NAGAR 31st STREET for the years 2002 and 2003. 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 31st STREET.

• THIRU NAGAR 30th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 32nd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 33rd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 2nd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 34th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 35th STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 31st 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 and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers THIRU NAGAR 31st STREET?

THIRU NAGAR 31st 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 in property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both the buyer and seller understand the fair value of the property. This value is used during the registration process to calculate the applicable fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 31st STREET?

The current guideline value of THIRU NAGAR 31st STREET is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,750 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 180% over this period.

What are the stamp duty and registration fees for properties in THIRU NAGAR 31st STREET?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000 in fees based on the current guideline value.

Which office handles the registration for THIRU NAGAR 31st STREET?

The Villivakkam Sub Registrar Office handles the registration for THIRU NAGAR 31st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where can I find more information about guideline values in Villivakkam?

You can find more information about guideline values and other related queries on the official website of the Registration Department or through the Villivakkam SRO.