Guideline Value for THIRUVENKADAM STREET

Thiruvenkadam Street guideline value

The current guideline value of Thiruvenkadam 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 Street has changed

The guideline value for Thiruvenkadam Street has seen several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 281 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 500 per sq.ft in 2007, reflecting a 200% increase. However, between 2007 and 2012, the value remained at Rs 500 per sq.ft until it increased to Rs 1,500 per sq.ft in 2012. This represented a notable increase of 200% over the previous period. The value then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 1,500 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 figure. The overall increase from 2002 to 2024 is 576%, reflecting the changes in the guideline value over the years.

Guideline values in Karambakkam

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

• Thiruvenkadam 3rd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 1st 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 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, bringing the total to Rs 1,48,500. It is important to note that the 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 Street?

The Sub Registrar Office that covers Thiruvenkadam 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. You can find your SRO for additional details.

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

The guideline value is a crucial reference point when buying or selling property in Karambakkam. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher amount will be used for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is documented at a fair value as determined by the local authorities. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thiruvenkadam Street?

The current guideline value of Thiruvenkadam 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 significantly from Rs 244 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 576% over the years.

What is the land classification for Thiruvenkadam Street?

Thiruvenkadam Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Thiruvenkadam Street is 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 property in Thiruvenkadam Street?

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