Guideline Value for THIRU VI KA STREET

Thiru VI Ka Street guideline value

The current guideline value of Thiru VI Ka Street in Karambakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thiru VI Ka Street has changed

The guideline value for Thiru VI Ka Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, which was Rs 161 per sq.ft. This value increased to Rs 185 per sq.ft in 2003, marking a 15% rise. Subsequently, in 2007, the value saw a significant jump to Rs 500 per sq.ft, reflecting a 170% increase. The 2012 revision set the value back to Rs 1,500 per sq.ft, showing a decrease of 33%. In 2017, the value rose to Rs 1,005 per sq.ft, and then it increased to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 925%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, indicating that Thiru VI Ka Street's 2024 figure is below this median.

• Thiruvenkadam Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 3rd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 1st Street: Rs 1,650 per sq.ft (2024)
• Vanagaram Salai: Rs 3,030 per sq.ft (2024)
• Venkateswara Road: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru VI Ka Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Thiru VI Ka Street?

The Sub Registrar Office that covers Thiru VI Ka Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Thiru VI Ka Street?

The current guideline value of Thiru VI Ka Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 161 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 925% over this period.

What is the median guideline value for streets in Karambakkam?

The median guideline value for streets in Karambakkam is Rs 1,930 per sq.ft, which is higher than the current value of Thiru VI Ka Street.

What are the stamp duty and registration fees for Thiru VI Ka Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Thiru VI Ka Street located?

The Sub Registrar Office for Thiru VI Ka Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.