Guideline Value for THIRUVENKADAM STREET EXTENSION

Thiruvenkadam Street Extension guideline value

The current guideline value of Thiruvenkadam Street Extension is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Thiruvenkadam Street Extension has changed

In the 2012 revision, the guideline value was Rs 13,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 14,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 for Thiruvenkadam Street Extension.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thiruvenkadam Street Extension's guideline value is above this median.

• Thiruvenkadam Street: Rs 14,300 per sq.ft (2024)
• Thiru.V.K. 1st Lane: Rs 12,100 per sq.ft (2024)
• Thiruvengadam 2nd Street: Rs 7,100 per sq.ft (2024)
• Thiruveedhi Amman Koil (Royapettah): Rs 8,200 per sq.ft (2024)
• Thiruveedhi Amman Koil (Mandaveli): Rs 8,200 per sq.ft (2024)
• Thondaikan Makkan 1st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkadam Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. Please 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 more details.

Which Sub Registrar Office covers Thiruvenkadam Street Extension?

The Sub Registrar Office that covers Thiruvenkadam Street Extension is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Mylapore. It serves as a benchmark for property transactions, ensuring that the taxes are calculated based on the official valuation set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property and maintains consistency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvenkadam Street Extension?

The current guideline value of Thiruvenkadam Street Extension is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 10% increase from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Which Sub Registrar Office should I visit for transactions in Thiruvenkadam Street Extension?

The Mylapore Sub Registrar Office is responsible for transactions in Thiruvenkadam Street Extension. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty and registration fees for property in Thiruvenkadam Street Extension?

For a property valued at Rs 14,300 per sq.ft, the stamp duty is calculated at 7%, and the registration fee is at 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 12,87,000.

What is the land classification of Thiruvenkadam Street Extension?

Thiruvenkadam Street Extension is classified as Residential Class I Type - III. This classification is important for determining the guideline value and applicable regulations for property transactions.