Guideline Value for THIRUVENKADAM 3RD STREET

Thiruvenkadam 3rd Street guideline value

The current guideline value of Thiruvenkadam 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Thiruvenkadam 3rd Street has changed

The guideline value for Thiruvenkadam 3rd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. 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.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2017 revision had a notable increase of 49% from the previous 2023 value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

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 value for these streets is Rs 1,930 per sq.ft, indicating that Thiruvenkadam 3rd Street's 2024 figure is below the median.

• Thiruvenkadam 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Thus, the total cost for stamp duty and registration fees would be 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvenkadam 3rd Street?

The Sub Registrar Office that covers Thiruvenkadam 3rd 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is properly documented and the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of Thiruvenkadam 3rd Street?

The current guideline value of Thiruvenkadam 3rd 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 are the other streets in Karambakkam with the same guideline value?

Other streets in Karambakkam with the same guideline value of Rs 1,650 per sq.ft in 2024 include Thiruvenkadam 2nd Street, Thiruvenkadam 1st Street, Thiruvenkadam Street, and Thiru VI Ka Street.

Where can I find the Sub Registrar Office for Thiruvenkadam 3rd Street?

The Sub Registrar Office for Thiruvenkadam 3rd 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 Thiruvenkadam 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.