Guideline Value for THIRUVENGADAIAH 1ST LANE

Thiruvengadaiah 1st Lane guideline value

The current guideline value of Thiruvengadaiah 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thiruvengadaiah 1st Lane has changed

The guideline value for Thiruvengadaiah 1st Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Thiruvengadaiah 1st Lane's 2024 figure below that median.

• THIRUVENGADAIAH 1st CROSS STREET: Rs 3,300 per sq.ft (2024)
• THIRUVENGADAIAH 1st STREET: Rs 3,300 per sq.ft (2024)
• THIRUVENGADAIAH 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• Thiruvengadaiah 2nd Lane: Rs 3,300 per sq.ft (2024)
• THIRUVENGADAIAH 2nd STREET: Rs 3,300 per sq.ft (2024)
• Thiruvengadaiah 3rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadaiah 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvengadaiah 1st Lane?

The Sub Registrar Office covering Thiruvengadaiah 1st Lane is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Villivakkam, the guideline value is a crucial factor in determining the registration fees and stamp duty payable. The guideline value is used as a benchmark for calculating these fees, ensuring that all transactions are recorded accurately according to the prevailing rates set by the Registration Department.

It is important to note that the guideline value may differ from the actual sale price of the property. The duty is charged on the higher amount between the guideline value and the sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvengadaiah 1st Lane?

The current guideline value of Thiruvengadaiah 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Thiruvengadaiah 1st Lane?

Thiruvengadaiah 1st Lane is classified as Residential Class IV Type - II.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for property in Thiruvengadaiah 1st Lane?

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 fees would amount to Rs 2,97,000.