Guideline Value for THIRUVASAGAM STREET

Thiruvasagam Street guideline value

The current guideline value of Thiruvasagam Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thiruvasagam Street has changed

The guideline value of Thiruvasagam Street has seen several revisions over the years. The earliest recorded figure is from 2002, when it was Rs 350 per sq.ft. This figure increased to Rs 404 per sq.ft in 2003, marking a 15% rise. By 2007, the value surged to Rs 1,000 per sq.ft, representing a significant increase of 148%. The 2012 revision saw the value rise to Rs 3,200 per sq.ft, which was a remarkable 220% increase from the previous figure. However, the 2017 revision brought the value down to Rs 2,144 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, followed by the current 2024 revision of Rs 3,520 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 906%. There are no figures available for any other years in the register for Thiruvasagam Street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Thiruvasagam Street's 2024 figure below this median.

• Thiruvalluvar Street: Rs 4,620 per sq.ft (2024)
• Thirumoolar Street: Rs 3,520 per sq.ft (2024)
• Thirumal Street: Rs 3,520 per sq.ft (2024)
• Thirumal 7th Street (Gandhi Nagar): Rs 3,520 per sq.ft (2024)
• Thirukumaran St: Rs 3,080 per sq.ft (2024)
• Thirugnanasambandam Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvasagam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiruvasagam Street?

The Sub Registrar Office that covers Thiruvasagam Street is 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions, while also providing a clear framework for buyers and sellers to understand the costs involved.

Frequently asked questions

What is the current guideline value of Thiruvasagam Street?

The current guideline value of Thiruvasagam Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 906% over this period.

What is the land classification for Thiruvasagam Street?

The land classification for Thiruvasagam Street is Residential Class III Type - I.

Where is the Sub Registrar Office for Thiruvasagam Street located?

The Sub Registrar Office for Thiruvasagam Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Thiruvasagam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 35,20,000 would incur a stamp duty of Rs 2,46,400.