Guideline Value for THIRUVENGADAIAH 1st CROSS STREET

THIRUVENGADAIAH 1st CROSS STREET guideline value

The current guideline value of THIRUVENGADAIAH 1st CROSS STREET 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 CROSS STREET has changed

The guideline value for THIRUVENGADAIAH 1st CROSS STREET has undergone several revisions over the years. The earliest recorded value was Rs 600 per sq.ft in 2007. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Villivakkam

In Villivakkam, there are a total of 372 streets under the Villivakkam SRO, with guideline values 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, which means that the 2024 figure for THIRUVENGADAIAH 1st CROSS STREET is below the median.

• Thiruvengadaiah 1st Lane: 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)
• Thiruveethiamman Koil Street (Kovil Land): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in THIRUVENGADAIAH 1st CROSS STREET

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 to Rs 2,97,000. It is important to 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 details.

Which Sub Registrar Office covers THIRUVENGADAIAH 1st CROSS STREET?

The Sub Registrar Office that covers THIRUVENGADAIAH 1st CROSS STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property rather than the sale price.

When a property is registered, the guideline value helps determine the legal framework for the transaction, ensuring transparency and compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of THIRUVENGADAIAH 1st CROSS STREET?

The current guideline value of THIRUVENGADAIAH 1st CROSS STREET 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in THIRUVENGADAIAH 1st CROSS STREET is 7% of the guideline value or sale price, whichever is higher.

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 Nolambur Eb Office.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, which is higher than the current value of THIRUVENGADAIAH 1st CROSS STREET.