Guideline Value for THIRU.V.K NAGAR 5TH STREET

Thiru.V.K Nagar 5th Street guideline value

The current guideline value for Thiru.V.K Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thiru.V.K Nagar 5th Street has changed

The guideline value for Thiru.V.K Nagar 5th 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. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 2,200 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was an impressive 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with a 2024 guideline value range 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 5th Street's 2024 figure below this median.

• Thiru.V.K Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiru.V.K Nagar 6th 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 7th 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 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K Nagar 5th 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 fees together to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru.V.K Nagar 5th Street?

The Sub Registrar Office that covers Thiru.V.K Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property 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 a buyer or seller engages in a transaction, the guideline value is compared with the agreed sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Thiru.V.K Nagar 5th Street?

The current guideline value of Thiru.V.K Nagar 5th 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 from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a significant increase over the years.

What is the stamp duty for property in Thiru.V.K Nagar 5th Street?

The stamp duty for property in Thiru.V.K Nagar 5th Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Thiru.V.K Nagar 5th Street?

The Purasaivakkam Sub Registrar Office covers Thiru.V.K Nagar 5th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values of other streets in Perambur?

Other streets in Perambur have varying guideline values, with Thiru.V.K Nagar 4th, 6th, 3rd, 7th, 2nd, and 8th Streets all sharing the same guideline value of Rs 2,200 per sq.ft as of 2024.