Guideline Value for THIRUVEEKA STREET (WARD-21)

Thiruveeka Street (Ward-21) guideline value

The current guideline value of Thiruveeka Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruveeka Street (Ward-21) has changed

The guideline value for Thiruveeka Street (Ward-21) has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 600 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 600 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Thiruveeka Street (Ward-21). Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Vallancheri

Vallancheri village has a total of 134 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, positioning Thiruveeka Street's 2024 figure below this median.

• Thiruvalluvar Street (Ward-21): Rs 660 per sq.ft (2024)
• Thiruvalluvar Street (Ward-20): Rs 880 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Thirumurugan Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Vallalar Nagar Ambedkar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruveeka Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiruveeka Street (Ward-21)?

The Sub Registrar Office that covers Thiruveeka Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallancheri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruveeka Street (Ward-21)?

The current guideline value of Thiruveeka Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a change of 10%. The value has also increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, marking a 49% rise.

What is the land classification of Thiruveeka Street (Ward-21)?

Thiruveeka Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Thiruveeka Street (Ward-21)?

The Sub Registrar Office for Thiruveeka Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.