Guideline Value for THIRUVENKADAM NAGAR 2ND CROSS STREET

Thiruvenkadam Nagar 2nd Cross Street guideline value

The current guideline value of Thiruvenkadam Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thiruvenkadam Nagar 2nd Cross Street has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

In terms of percentage changes, the increase from 2017 to 2023 was significant at 49%. However, the 2012 to 2017 period saw a decrease of 33%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with the median value being Rs 3,300 per sq.ft. Thiruvenkadam Nagar 2nd Cross Street's 2024 figure aligns with this median.

• Thiruvenkadam Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar Ist Main Road: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street (Sri Jayendra Colony): Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkadam Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thiruvenkadam Nagar 2nd Cross Street?

The Thiruvenkadam Nagar 2nd 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perungudi. It is used as a reference point for determining the stamp duty and registration fees when a property is bought or sold. This ensures that the government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Thiruvenkadam Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What is the land classification for Thiruvenkadam Nagar 2nd Cross Street?

Thiruvenkadam Nagar 2nd Cross Street is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 Thiruvenkadam Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft incurs a total guideline value of Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.