Guideline Value for THIRU. VI.KA STREET

Thiru. VI.Ka Street guideline value

The current guideline value of Thiru. VI.Ka Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiru. VI.Ka Street has changed

The guideline value for Thiru. VI.Ka Street has seen several revisions over the years. In 2002, the value was Rs 688 per sq.ft, which increased to Rs 758 per sq.ft in 2003. The value then rose significantly to Rs 950 per sq.ft in 2007, followed by a substantial increase to Rs 4,900 per sq.ft in 2012. However, there was a decrease to Rs 3,283 per sq.ft in 2017. The value saw a sharp increase to Rs 4,900 per sq.ft in 2023 and finally reached Rs 5,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 670%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Thiru. VI.Ka Street's 2024 value below that median.

• Thiru Venkada Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Thiruveethiammam Koil Street: Rs 4,700 per sq.ft (2024)
• Thiruvalluvar Street (Amaravathi Nagar): Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Nagar (Near Kalki Nagar): Rs 3,800 per sq.ft (2024)
• Tnhb Colony: Rs 3,300 per sq.ft (2024)
• Thiruvadudurai Adhinam Nagar: Rs 5,500 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 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, making the total fees Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thiru. VI.Ka Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees payable at the time of the transaction.

When buying or selling property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures that all parties are aware of the financial obligations involved in 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 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 688 in 2002 to Rs 5,300 in 2024, reflecting an overall increase of 670% over this period.

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

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

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Thiru. VI.Ka Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 at a rate of 7%.