Guideline Value for THIRUVENGADAM 2ND STREET

Thiruvengadam 2nd Street guideline value

The current guideline value of Thiruvengadam 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Thiruvengadam 2nd Street has changed

Over the years, the guideline value for Thiruvengadam 2nd Street has seen significant changes. The earliest recorded figure is from 2002, at Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. Following this, the value surged to Rs 6,500 per sq.ft in 2012, reflecting a remarkable increase of 571%. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a substantial increase of 63% from the 2017 figure. The register has no figure for the years 2007 and 2023.

Overall, from 2002 to 2024, the guideline value has increased by 714%. The fluctuations in the guideline value reflect the changes in the real estate landscape in the area over the years.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thiruvengadam 2nd Street's 2024 guideline value is below this median.

• Thiruveedhi Amman Koil (Royapettah): Rs 8,200 per sq.ft (2024)
• Thiruveedhi Amman Koil (Mandaveli): Rs 8,200 per sq.ft (2024)
• Thiruvenkadam Street: Rs 14,300 per sq.ft (2024)
• Thiruvenkadam Street Extension: Rs 14,300 per sq.ft (2024)
• Thiruvalluvarpettai Street: Rs 7,100 per sq.ft (2024)
• Thiru.V.K. 1st Lane: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam 2nd Street?

The Thiruvengadam 2nd Street falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an important factor during property registration in Mylapore. It is used to determine the stamp duty and registration fees payable at the time of transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold or purchased, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to understand that the registration process will consider the guideline value or the sale price, whichever is higher, to determine the applicable duties.

Frequently asked questions

What is the current guideline value of Thiruvengadam 2nd Street?

The current guideline value of Thiruvengadam 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 714%.

What is the land classification of Thiruvengadam 2nd Street?

Thiruvengadam 2nd Street is classified as Residential Class IV Type - III.

Where can I find the registration office for Thiruvengadam 2nd Street?

The registration office for Thiruvengadam 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Thiruvengadam 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty at 7% would be Rs 4,97,000.