Guideline Value for THIRUVENKANDAM NAGAR

Thiruvenkandam Nagar guideline value

The current guideline value of Thiruvenkandam Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Thiruvenkandam Nagar has changed

The guideline value for Thiruvenkandam Nagar has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, it reached Rs 2,160 per sq.ft in the 2024 revision, marking an increase of 8% from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Thiruvenkandam Nagar's 2024 figure is below this median.

• Thiruvin Nagar: Rs 4,070 per sq.ft (2024)
• Tranquil Acres: Rs 4,070 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)
• Vadakku Pattu Road: Rs 2,200 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)
• Tamilkudimagan Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkandam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvenkandam Nagar?

The Sub Registrar Office that covers Thiruvenkandam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kovilambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvenkandam Nagar?

The current guideline value of Thiruvenkandam Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 8% from Rs 2,000 per sq.ft in 2023 to Rs 2,160 per sq.ft in 2024. It increased significantly by 49% from 2017 to 2023.

What is the land classification for Thiruvenkandam Nagar?

Thiruvenkandam Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Thiruvenkandam Nagar?

The Sub Registrar Office for Thiruvenkandam Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thiruvenkandam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at a rate of 7%.