Guideline Value for THIRUVENGADAM STREET (GRAMA NEDUNCHALAI 8TH CROSS STREET)

Thiruvengadam Street (Grama Nedunchalai 8th Cross Street) guideline value

The current guideline value of Thiruvengadam Street (Grama Nedunchalai 8th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Thiruvengadam Street (Grama Nedunchalai 8th Cross Street) has changed

The guideline value for Thiruvengadam Street has undergone several revisions over the years. The register shows no figures for this street in the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This increase reflects a consistent adjustment in the guideline values, aligning with the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO. The 2024 figure matches this median, indicating that Thiruvengadam Street's value is in line with the overall market for the area.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. Thiruvengadam Street's 2024 guideline value of Rs 2,200 per sq.ft is equal to this median. The following are other streets in Sholinganallur - 1:

• Thiruvengadam Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 3,300 per sq.ft (2024)
• Thulukanam Thottam: Rs 1,700 per sq.ft (2024)
• Thulukkanam Street (Grama Nedunchalai Cross Street): Rs 2,200 per sq.ft (2024)
• Trit Wood Drive Avenue: Rs 4,400 per sq.ft (2024)
• T.S.R.K.D.Holding Canel: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Street (Grama Nedunchalai 8th Cross Street)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiruvengadam Street (Grama Nedunchalai 8th Cross Street)?

The Thiruvengadam Street (Grama Nedunchalai 8th Cross Street) falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is assessed to determine the minimum value for taxation purposes. This means that even if the sale price is lower than the guideline value, the stamp duty and registration fees will be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street (Grama Nedunchalai 8th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Thiruvengadam Street?

Thiruvengadam Street falls under the Residential Class II Type - III land classification.

Where can I find the registration office for Thiruvengadam Street?

The registration office for Thiruvengadam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.