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

Thiru.V.K Nagar 2nd Cross Street guideline value

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

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

The guideline value for Thiru.V.K Nagar 2nd Cross Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% increase. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 saw the value rise to Rs 2,200 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Thiru.V.K Nagar 2nd Cross Street's guideline value is below this median.

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

Stamp duty and registration fee for property in Thiru.V.K Nagar 2nd Cross 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 duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

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

The Sub Registrar Office that covers Thiru.V.K Nagar 2nd Cross 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 during property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction aligns with the official valuation set by the authorities.

Frequently asked questions

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

The current guideline value for Thiru.V.K Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes. From Rs 500 per sq.ft in 2007, it increased to Rs 2,000 in 2012, then dropped to Rs 1,340 in 2017, and finally rose to Rs 2,200 in 2024.

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

Thiru.V.K Nagar 2nd Cross Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in Thiru.V.K Nagar 2nd Cross 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 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.