Guideline Value for THIRU.VI.KA 1 AND 2ND CROSS STREET

Thiru.VI.Ka 1 And 2nd Cross Street guideline value

The current guideline value of Thiru.VI.Ka 1 And 2nd Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiru.VI.Ka 1 And 2nd Cross Street has changed

The guideline value of Thiru.VI.Ka 1 And 2nd Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,200 per sq.ft. This value decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 2,200 per sq.ft in 2023, and then further rose to Rs 2,380 per sq.ft in the 2024 revision, reflecting an 8% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Thiru.VI.Ka 1 And 2nd Cross Street's 2024 guideline value is below this median.

• Thiru.Vi.Ka.Nagar 2nd Street: Rs 2,380 per sq.ft (2024)
• Thiru.Vi.Ka Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Thiyagarajan Street: Rs 2,420 per sq.ft (2024)
• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)
• Thiruvaluvar Nagar & Street: Rs 2,380 per sq.ft (2024)
• Thiruvaluvar Nagar: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.VI.Ka 1 And 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total to Rs 2,14,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru.VI.Ka 1 And 2nd Cross Street?

The Thiru.VI.Ka 1 And 2nd Cross Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in line with government regulations.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are recorded accurately and transparently, contributing to the overall integrity of the real estate market.

Frequently asked questions

What is the current guideline value of Thiru.VI.Ka 1 And 2nd Cross Street?

The current guideline value of Thiru.VI.Ka 1 And 2nd Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,380 per sq.ft in 2024.

What is the land classification for Thiru.VI.Ka 1 And 2nd Cross Street?

Thiru.VI.Ka 1 And 2nd Cross Street is classified as Residential Class II Type - I.

Which office handles the registration for this street?

The Pallavaram Sub Registrar Office handles the registration for Thiru.VI.Ka 1 And 2nd Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,66,600.