Guideline Value for THIRU NAGAR 8th STREET

THIRU NAGAR 8th STREET guideline value

The current guideline value of THIRU NAGAR 8th STREET is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, with a land classification of Residential Class III Type - II.

How the guideline value of THIRU NAGAR 8th STREET has changed

The guideline value for THIRU NAGAR 8th STREET has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The value then rose significantly to Rs 4,500 per sq.ft in 2023 before reaching the current rate of Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 180%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values 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 the same as the current value for THIRU NAGAR 8th STREET.

• THIRU NAGAR 9th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 7th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 6th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 5th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 4th STREET: Rs 4,900 per sq.ft (2024)
• THIRU NAGAR 3rd STREET: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in THIRU NAGAR 8th 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, and the registration fee at 2% would be Rs 98,000, making the total fees 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers THIRU NAGAR 8th STREET?

The Sub Registrar Office that covers THIRU NAGAR 8th 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 used as a benchmark for property transactions in Villivakkam. When a property is bought or sold, the guideline value is referred to for calculating the applicable stamp duty and registration fees.

During the registration process, the higher value between the guideline value and the sale price is considered for duty calculation. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of THIRU NAGAR 8th STREET?

The current guideline value of THIRU NAGAR 8th 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, showing an increase of 180% overall.

What is the land classification for THIRU NAGAR 8th STREET?

THIRU NAGAR 8th STREET is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for THIRU NAGAR 8th STREET?

The Sub Registrar Office for THIRU NAGAR 8th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Villivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.