Guideline Value for THIRUVENKADAM 1ST STREET

Thiruvenkadam 1st Street guideline value

The current guideline value of Thiruvenkadam 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thiruvenkadam 1st Street has changed

The guideline value for Thiruvenkadam 1st Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision marked an increase to Rs 1,500 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, placing Thiruvenkadam 1st Street's 2024 figure below that median.

• Thiruvenkadam 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 3rd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,650 per sq.ft (2024)
• Thiru VI Ka Street: Rs 1,650 per sq.ft (2024)
• Vanagaram Salai: Rs 3,030 per sq.ft (2024)
• Venkateswara Road: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkadam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total fees would amount to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvenkadam 1st Street?

The Sub Registrar Office that covers Thiruvenkadam 1st 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, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Karambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvenkadam 1st Street?

The current guideline value of Thiruvenkadam 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value for streets in Karambakkam?

The median guideline value for the 159 streets in Karambakkam under the Chennai South Joint I SRO is Rs 1,930 per sq.ft.

What are the stamp duty and registration fees for properties in Thiruvenkadam 1st Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Thiruvenkadam 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Thiruvenkadam 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.