Guideline Value for THIRU.VI.KA PUBLIC SERVANTS WELFARE HOUSING SOCIETY LAYOUT

Thiru.VI.Ka Public Servants Welfare Housing Society Layout guideline value

The current guideline value of the Thiru.VI.Ka Public Servants Welfare Housing Society Layout is Rs 1,320 per sq.ft. This layout is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Thiru.VI.Ka Public Servants Welfare Housing Society Layout has changed

The guideline value for the Thiru.VI.Ka Public Servants Welfare Housing Society Layout has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 71 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 41% rise. In 2007, the value further surged to Rs 400 per sq.ft, reflecting a significant increase of 300%. The 2012 revision saw the figure stabilize at Rs 1,200 per sq.ft, which was a 200% increase from the previous value.

In 2017, the guideline value dropped to Rs 804 per sq.ft, a decrease of 33%. However, this trend reversed in 2023, when the value rose to Rs 1,200 per sq.ft, and then again increased to the current figure of Rs 1,320 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The overall change from 2002 to 2024 reflects a substantial increase of 1,759%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the Thiru.VI.Ka Public Servants Welfare Housing Society Layout's 2024 figure is below this median.

• Thiru.VI.Ka. Street: Rs 1,320 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,320 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 1,320 per sq.ft (2024)
• Thukanathamman Nagar 11th Street: Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Strete 2nd Cross St: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.VI.Ka Public Servants Welfare Housing Society Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiru.VI.Ka Public Servants Welfare Housing Society Layout?

The Thiru.VI.Ka Public Servants Welfare Housing Society Layout is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pallikaranai. 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 considered to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the actual sale price of the property is compared with the guideline value. The higher amount is used for calculating the applicable fees, which helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Thiru.VI.Ka Public Servants Welfare Housing Society Layout?

The current guideline value of Thiru.VI.Ka Public Servants Welfare Housing Society Layout is Rs 1,320 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has significantly increased from Rs 71 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,759% over the years.

What is the median guideline value in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current guideline value of Rs 1,320 per sq.ft for the Thiru.VI.Ka Public Servants Welfare Housing Society Layout.

Where is the Sub Registrar Office for this layout located?

The Sub Registrar Office covering the Thiru.VI.Ka Public Servants Welfare Housing Society Layout is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is 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 instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,18,800.