Guideline Value for THIRU.V.K NAGAR 3RD STREET

Thiru.V.K Nagar 3rd Street guideline value

The current guideline value of Thiru.V.K Nagar 3rd 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 3rd Street has changed

The guideline value for Thiru.V.K Nagar 3rd Street has undergone several revisions over the years. Starting from Rs 369 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, marking a 36% rise. The value then surged to Rs 2,000 per sq.ft in 2012, representing a remarkable 300% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a significant increase of 64% from the previous figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with 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 Thiru.V.K Nagar 3rd Street's guideline value below this median.

• Thiru.V.K Nagar 2nd 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 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 5th 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 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is essential 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 information.

Which Sub Registrar Office covers Thiru.V.K Nagar 3rd Street?

The Sub Registrar Office that covers Thiru.V.K Nagar 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is important to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Thiru.V.K Nagar 3rd Street?

The current guideline value of Thiru.V.K Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 369 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 496%.

What are the other streets with the same guideline value in Perambur?

Thiru.V.K Nagar 2nd Street, 4th Street, 2nd Cross Street, 5th Street, 1st Street, and 6th Street all share the same guideline value of Rs 2,200 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Thiru.V.K Nagar 3rd Street?

The Sub Registrar Office for Thiru.V.K Nagar 3rd Street is located at Purasaivakkam Sub Registrar Office, 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at a rate of 7% on the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.