Guideline Value

Corporate

Guideline Value for THIRU.VEE.KA. STREET & ROAD

₹2800/sq.ft.

The guideline value for Thiru.vee.ka. Street & Road in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2800 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1546 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹140 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thiru.vee.ka. Street & Road

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Thiru.Vee.Ka. Street & Road guideline value

The current guideline value for Thiru.Vee.Ka. Street & Road is Rs 2,800 per sq.ft. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiru.Vee.Ka. Street & Road has changed

The guideline value for Thiru.Vee.Ka. Street & Road has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 140 per sq.ft. This figure increased significantly to Rs 1,546 per sq.ft in 2007, marking a change of +1004%. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, which was a drop of -33%. In 2017, the value rose again to Rs 1,675 per sq.ft, reflecting an increase of +49% from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the latest revision in 2024.

The most recent revision, effective from 1 July 2024, established the current guideline value at Rs 2,800 per sq.ft, representing an increase of +12% from the 2023 figure. Overall, the guideline value has increased by +1900% from the 2003 figure to the current value in 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thiru.Vee.Ka. Street & Road's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Thiru.Vee.Ka. Street & Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important 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 details.

Which Sub Registrar Office covers Thiru.Vee.Ka. Street & Road?

The Sub Registrar Office that covers Thiru.Vee.Ka. Street & Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property, ensuring that these fees are based on a standardized value set by the government.

When selling property, the guideline value helps establish a baseline for the sale price, which can influence negotiations between buyers and sellers. It is essential for both parties to be aware of the guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value for Thiru.Vee.Ka. Street & Road?

The current guideline value for Thiru.Vee.Ka. Street & Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1900% over this period.

What is the land classification for Thiru.Vee.Ka. Street & Road?

Thiru.Vee.Ka. Street & Road is classified as Residential Class III Type - I according to the guidelines.

What are the stamp duty and registration fees for property in Thiru.Vee.Ka. Street & Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Which office handles property registrations for Thiru.Vee.Ka. Street & Road?

The Neelankarai Sub Registrar Office handles property registrations for Thiru.Vee.Ka. Street & Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.