Guideline Value for THIRU NAGAR 4th STREET

THIRU NAGAR 4th STREET guideline value

The current guideline value of THIRU NAGAR 4th 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 4th STREET has changed

The guideline value for THIRU NAGAR 4th STREET has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 4,500 per sq.ft by 2012. However, it dropped to Rs 3,015 per sq.ft in 2017, before rising to Rs 4,500 per sq.ft again in 2023. The current revision in 2024 shows a further increase to Rs 4,900 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 9%. Overall, from 2007 to 2024, the guideline value has increased by 180%. The register has no figures for the years 2002 and 2003 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 is Rs 4,900 per sq.ft, which is equal to the 2024 figure for THIRU NAGAR 4th STREET.

• THIRU NAGAR 3rd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 5th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 37th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 36th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 6th 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 4th 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 be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that 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 more details.

Which Sub Registrar Office covers THIRU NAGAR 4th STREET?

The Sub Registrar Office that covers THIRU NAGAR 4th 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 property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for THIRU NAGAR 4th STREET?

The current guideline value for THIRU NAGAR 4th 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 transactions?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations in this area?

The Villivakkam Sub Registrar Office is responsible for property registrations in THIRU NAGAR 4th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct amount is paid based on the higher of the guideline value or the sale price.