Guideline Value for THIRU NAGAR 5th STREET

THIRU NAGAR 5th STREET guideline value

The current guideline value of THIRU NAGAR 5th STREET is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of THIRU NAGAR 5th STREET has changed

The guideline value for THIRU NAGAR 5th 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, marking a 157% rise. However, it then decreased to Rs 3,015 per sq.ft in the 2017 revision, a drop of 33%. The value continued to rise, reaching Rs 4,500 per sq.ft in the 2023 revision, before finally increasing to Rs 4,900 per sq.ft in the 2024 revision, 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 the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with 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 5th STREET.

• THIRU NAGAR 4th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 6th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 3rd STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 7th 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)

Stamp duty and registration fee for property in THIRU NAGAR 5th 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, resulting in a total of 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers THIRU NAGAR 5th STREET?

THIRU NAGAR 5th 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 details.

How the guideline value is used when you buy or sell in Villivakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 5th STREET?

The current guideline value of THIRU NAGAR 5th 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 the years.

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

Other streets in Villivakkam with the same guideline value of Rs 4,900 per sq.ft include THIRU NAGAR 4th STREET, THIRU NAGAR 6th STREET, THIRU NAGAR 3rd STREET, THIRU NAGAR 7th STREET, THIRU NAGAR 37th STREET, and THIRU NAGAR 36th STREET.

What is the stamp duty rate for properties in THIRU NAGAR 5th STREET?

The stamp duty rate for properties in THIRU NAGAR 5th STREET is 7% of the guideline value or the sale price, whichever is higher.

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.