Guideline Value for THIRUVENKADAM STREET

Thiruvenkadam Street guideline value

The current guideline value of Thiruvenkadam Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Thiruvenkadam Street has changed

The guideline value for Thiruvenkadam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 100 per sq.ft. This increased to Rs 118 per sq.ft in 2003, marking an 18% rise. By 2007, the value surged to Rs 400 per sq.ft, representing a significant 239% increase. The next revision in 2012 saw no change, maintaining the value at Rs 1,200 per sq.ft. In 2023, the value remained the same at Rs 1,200 per sq.ft, before the latest revision in 2024, which set the guideline value at Rs 1,320 per sq.ft, a 10% increase from the previous year.

The register has no figure for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1220%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Thiruvenkadam Street's current guideline value is below this median.

• Thiru.VI.Ka Public Servants Welfare Housing Society Layout: Rs 1,320 per sq.ft (2024)
• Thiru.VI.Ka. Street: Rs 1,320 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Strete 2nd Cross St: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• THIRUVALLUVAR STREET 1st CROSS: Rs 1,650 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 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvenkadam Street?

The current guideline value of Thiruvenkadam Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1220% over the years.

Which Sub Registrar Office covers Thiruvenkadam Street?

The Chennai South Joint I Sub Registrar Office covers Thiruvenkadam Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Are there other streets in Pallikaranai with similar guideline values?

Yes, other streets in Pallikaranai under the Chennai South Joint I SRO have guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft, with some streets like Thiru.VI.Ka Public Servants Welfare Housing Society Layout also having a guideline value of Rs 1,320 per sq.ft in 2024.