Guideline Value for THIRUVENGADAM NAGAR 2ND CROSS STREET

Thiruvengadam Nagar 2nd Cross Street guideline value

The current guideline value for Thiruvengadam Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, and it falls under the Commercial Class I Type - III land classification.

How the guideline value of Thiruvengadam Nagar 2nd Cross Street has changed

The guideline value for Thiruvengadam Nagar 2nd Cross Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 2,500 per sq.ft. In the 2017 revision, it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a growth of 49%. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Thiruvengadam Nagar 2nd Cross Street above that median.

• Thiruvengadam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar Rajiv Gandhi Street: Rs 2,750 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 1,540 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to 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 precise calculations.

Which Sub Registrar Office covers Thiruvengadam Nagar 2nd Cross Street?

The Sub Registrar Office that covers Thiruvengadam Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Medavakkam, as it determines the minimum price at which a property must be registered. This value is used to calculate the stamp duty and registration fees payable at the time of registration.

Frequently asked questions

What is the current guideline value for Thiruvengadam Nagar 2nd Cross Street?

The current guideline value for Thiruvengadam Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Thiruvengadam Nagar 2nd Cross Street?

Thiruvengadam Nagar 2nd Cross Street is classified under Commercial Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thiruvengadam Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.