Guideline Value for THIRUVENGADAM STREET

Thiruvengadam Street guideline value

The current guideline value of Thiruvengadam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Thiruvengadam Street has changed

The guideline value for Thiruvengadam Street has undergone several revisions over the years. In 2002, the value was Rs 863 per sq.ft, which increased to Rs 960 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 1,500 per sq.ft in 2007, a 56% increase. By 2012, the value was revised to Rs 6,000 per sq.ft, reflecting a substantial 300% increase from the previous revision. However, it then decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value saw a notable increase of 49%, reaching Rs 6,000 per sq.ft. The latest revision in 2024 set the value at Rs 6,600 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 665%.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the guideline value of Thiruvengadam Street equal to this median.

• Thiruveethi Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Vadivelpuram: Rs 6,600 per sq.ft (2024)
• Thambiah Reddy Road: Rs 15,400 per sq.ft (2024)
• Thalayari Street: Rs 6,600 per sq.ft (2024)
• Vazhai Thoppu: Rs 4,400 per sq.ft (2024)
• Velu Street Eastern Side Of Arya Gowda Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam Street?

The Sub Registrar Office that covers Thiruvengadam Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mambalam. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Understanding this value can help in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 863 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 665%.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Thiruvengadam Street?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Thiruvengadam Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Thiruvengadam Street?

Thiruvengadam Street is classified as Residential Class II Type - I, which is relevant for determining its guideline value and applicable regulations during property transactions.