Guideline Value for THIRU.V.K STREET

Thiru.V.K Street guideline value

The current guideline value of Thiru.V.K Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Thiru.V.K Street has changed

The guideline value for Thiru.V.K Street has seen significant changes over the years. In 2002, the value was Rs 523 per sq.ft, which increased to Rs 619 per sq.ft in 2003, marking an 18% rise. The value continued to grow, reaching Rs 700 per sq.ft in 2007, an increase of 13%. The next major revision occurred in 2012, where the value rose to Rs 3,000 per sq.ft, representing a substantial 329% increase from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33% from 2012. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a rise to Rs 3,200 per sq.ft in 2024, reflecting a 7% increase.

Overall, from 2002 to 2024, the guideline value has increased by 512%. The register has no figures for the years not mentioned in this summary.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Thiru.V.K Street's 2024 guideline value above this median.

• Thiru.V.K Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty, calculated at 7%, would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru.V.K Street?

The Sub Registrar Office that covers Thiru.V.K Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Thiru.V.K Street?

The current guideline value of Thiru.V.K Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 523 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 512% over this period.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is below the current value of Thiru.V.K Street.

What fees are associated with buying property in Thiru.V.K Street?

When purchasing property, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Thiru.V.K Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and handles registrations for Thiru.V.K Street.