Guideline Value for THIRU.V.K NAGAR 2ND STREET

Thiru.V.K Nagar 2nd Street guideline value

The current guideline value of Thiru.V.K Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thiru.V.K Nagar 2nd Street has changed

The guideline value for Thiru.V.K Nagar 2nd Street has seen several revisions over the years. The earliest recorded value was Rs 369 per sq.ft in 2003, which increased to Rs 500 per sq.ft in 2007. Following that, the value surged to Rs 2,000 per sq.ft in 2012, marking a significant increase of 300%. However, by 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a rise of 64% from 2017. The register has no figures for the years 2023 and 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 496%. This substantial rise indicates the changes in property valuation over the years, with the latest figure now standing at Rs 2,200 per sq.ft.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value 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 the guideline value of Thiru.V.K Nagar 2nd Street below this median.

• Thiru.V.K Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 1st Extn.: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Thiru.V.K Nagar 2nd Street?

The Sub Registrar Office that covers Thiru.V.K Nagar 2nd 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 plays a crucial role in the registration process of property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Thiru.V.K Nagar 2nd Street?

The current guideline value of Thiru.V.K Nagar 2nd Street is Rs 2,200 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 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 496% over the years.

What are the stamp duty rates for property in Thiru.V.K Nagar 2nd Street?

The stamp duty rate for property transactions in Thiru.V.K Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Thiru.V.K Nagar 2nd Street?

The Purasaivakkam Sub Registrar Office covers Thiru.V.K Nagar 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Thiru.V.K Nagar 2nd Street?

The land classification for Thiru.V.K Nagar 2nd Street is Residential Class IV Type - I, indicating its designated use for residential purposes.