Guideline Value for THIRU.VI.KA NAGAR

Thiru.VI.Ka Nagar guideline value

The current guideline value of Thiru.VI.Ka Nagar in Matthur village, under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Thiru.VI.Ka Nagar has changed

The guideline value for Thiru.VI.Ka Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 31 per sq.ft, which increased to Rs 37 per sq.ft in 2003. Following this, the value rose significantly to Rs 100 per sq.ft in 2007, and then to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3448%. The register has no figure for the years not mentioned in the revisions, ensuring that all changes are accounted for accurately.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value for Thiru.VI.Ka Nagar.

• T N H B Commercial Plots: Rs 3,300 per sq.ft (2024)
• Thirumurugan Nagar Phase I: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)
• Telecom Nagar: Rs 1,100 per sq.ft (2024)
• Vijay Ganapathy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.VI.Ka Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, and the registration fee, charged at 2%, would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiru.VI.Ka Nagar?

The Sub Registrar Office covering Thiru.VI.Ka Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Matthur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the registration process is standardized and transparent.

When a property is sold, the guideline value is considered for calculating the stamp duty and registration fees. Buyers must pay these fees based on the higher value between the guideline value and the actual sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiru.VI.Ka Nagar?

The current guideline value of Thiru.VI.Ka Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 31 per sq.ft in 2002 to the current Rs 1,100 per sq.ft in 2024, reflecting an increase of 3448% overall.

What is the land classification for Thiru.VI.Ka Nagar?

The land classification for Thiru.VI.Ka Nagar is Residential Special Type - III, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Thiru.VI.Ka Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value and the sale price of the property. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 99,000.