Guideline Value for THIRU-VI-KA STREET

Thiru-VI-Ka Street guideline value

The current guideline value of Thiru-VI-Ka Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Special 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. In 2012, the guideline value was set at Rs 4,000 per sq.ft. This value decreased to Rs 2,680 per sq.ft in 2017. In 2023, the guideline value increased to Rs 4,000 per sq.ft, and it saw another increase to Rs 4,400 per sq.ft in 2024. The changes between these revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a 10% increase from 2023 to 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, making Thiru-VI-Ka Street's 2024 figure of Rs 4,400 per sq.ft above the median.

• Tichu Street: Rs 3,550 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,550 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 5,500 per sq.ft (2024)
• Thirupathi Nagar Road: Rs 3,550 per sq.ft (2024)
• Udayarkulam Street: Rs 1,950 per sq.ft (2024)
• Udayar Street: Rs 1,950 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru-VI-Ka Street?

The Sub Registrar Office that covers Thiru-VI-Ka Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Thiru-VI-Ka Street?

The land classification for Thiru-VI-Ka Street is Residential Special Type - I.

How does the guideline value compare to other streets in Ramapuram?

Thiru-VI-Ka Street's guideline value of Rs 4,400 per sq.ft is above the median value of Rs 3,100 per sq.ft for the 394 streets in Ramapuram under the Chennai South Joint II SRO.

Where can I find the Sub Registrar Office for Thiru-VI-Ka Street?

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