Guideline Value for THIRU NAGAR 32nd STREET

THIRU NAGAR 32nd STREET guideline value

The current guideline value of THIRU NAGAR 32nd STREET is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of THIRU NAGAR 32nd STREET has changed

The guideline value for THIRU NAGAR 32nd STREET has seen several revisions over the years. In the 2007 revision, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, this value decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 4,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 4,900 per sq.ft, a change of 9% 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%, reflecting the changes in the area's pricing over the years.

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 is Rs 4,900 per sq.ft, which is equal to the current guideline value of THIRU NAGAR 32nd STREET.

• THIRU NAGAR 31st STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 33rd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 30th 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)
• THIRU NAGAR 2nd STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 32nd STREET

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 4,41,000. Please 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 details.

Which Sub Registrar Office covers THIRU NAGAR 32nd STREET?

The Sub Registrar Office that covers THIRU NAGAR 32nd STREET is 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 in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 32nd STREET?

The current guideline value of THIRU NAGAR 32nd 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, reflecting an overall increase of 180% over this period.

What are the stamp duty and registration fees for property in THIRU NAGAR 32nd STREET?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,41,000.

Which Sub Registrar Office covers THIRU NAGAR 32nd STREET?

The Villivakkam Sub Registrar Office covers THIRU NAGAR 32nd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for THIRU NAGAR 32nd STREET?

The land classification for THIRU NAGAR 32nd STREET is Residential Class III Type - II.