Guideline Value for THIRUVENKADAM 2ND STREET

Thiruvenkadam 2nd Street guideline value

The current guideline value of Thiruvenkadam 2nd 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 2nd Street has changed

The guideline value for Thiruvenkadam 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,930 per sq.ft, which means that Thiruvenkadam 2nd Street's 2024 figure is below that median.

• Thiruvenkadam 1st 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 2nd 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, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvenkadam 2nd Street?

The Sub Registrar Office that covers Thiruvenkadam 2nd 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 plays a crucial role in the registration process of property transactions in Karambakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is sold or purchased. Buyers and sellers must be aware of the guideline value to ensure they are compliant with the registration requirements.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thiruvenkadam 2nd 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 stamp duty rate for properties in Thiruvenkadam 2nd Street?

The stamp duty rate for properties in Thiruvenkadam 2nd Street is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in Thiruvenkadam 2nd Street is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Sub Registrar Office that covers Thiruvenkadam 2nd Street is the Chennai South Joint I Sub Registrar Office, located in Fanepet Nandanam, Chennai.