Guideline Value for THIRUVENGADAIAH 2nd STREET

THIRUVENGADAIAH 2nd STREET guideline value

The current guideline value of THIRUVENGADAIAH 2nd 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 2nd STREET has changed

The guideline value for THIRUVENGADAIAH 2nd STREET has undergone several revisions over the years. In 2002, the value was Rs 617 per sq.ft, which increased to Rs 705 per sq.ft in 2003, marking a 14% rise. This was followed by a 6% increase to Rs 750 per sq.ft in 2007. The value then saw a substantial jump of 300% to Rs 3,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it by 10% to Rs 3,300 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 435%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the village is Rs 4,900 per sq.ft, placing THIRUVENGADAIAH 2nd STREET's 2024 figure below that median.

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

Stamp duty and registration fee for property in THIRUVENGADAIAH 2nd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers THIRUVENGADAIAH 2nd STREET?

The Sub Registrar Office that covers THIRUVENGADAIAH 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 an important factor in property transactions in Villivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of THIRUVENGADAIAH 2nd STREET?

The current guideline value of THIRUVENGADAIAH 2nd 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 617 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 435% over the years.

What is the land classification for THIRUVENGADAIAH 2nd STREET?

THIRUVENGADAIAH 2nd STREET is classified as Residential Class IV Type - II.

What are the other streets in Villivakkam with the same guideline value?

Other streets in Villivakkam with a guideline value of Rs 3,300 per sq.ft include Thiruvengadaiah 2nd Lane, Thiruvengadaiah 3rd Lane, THIRUVENGADAIAH 2nd CROSS STREET, Thiruvengadaiah Street, THIRUVENGADAIAH 1st STREET, and Thiruvengadaiah 1st Lane.

Where is the Villivakkam Sub Registrar Office located?

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