Guideline Value for THIRUVIKA PARK 2ND LANE

Thiruvika Park 2nd Lane guideline value

The current guideline value of Thiruvika Park 2nd Lane is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village under the Avadi SRO and is classified as Residential Class II Type - I.

How the guideline value of Thiruvika Park 2nd Lane has changed

The guideline value for Thiruvika Park 2nd Lane has undergone several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then further to Rs 950 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, there was a substantial rise of 49%. Overall, comparing the values from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. Thiruvika Park 2nd Lane's 2024 figure is below this median.

• Thiruvika Park 1st Lane: Rs 950 per sq.ft (2024)
• Thiruvika Park St: Rs 950 per sq.ft (2024)
• Thiruvika St, (Govarthanagiri): Rs 1,625 per sq.ft (2024)
• Thiruvika St, Kannigapuram: Rs 990 per sq.ft (2024)
• Thiruvika St, Konambedu: Rs 950 per sq.ft (2024)
• Thiruvalluvar St Konambedu: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvika Park 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, while the registration fee at 2% would be Rs 19,000, bringing the total charges to Rs 85,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvika Park 2nd Lane?

The Sub Registrar Office that covers Thiruvika Park 2nd Lane is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Paruthipattu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, 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 government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruvika Park 2nd Lane?

The current guideline value of Thiruvika Park 2nd Lane is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification for Thiruvika Park 2nd Lane?

Thiruvika Park 2nd Lane is classified as Residential Class II Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Thiruvika Park 2nd Lane is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office do I need to visit for property registration?

The Avadi Sub Registrar Office covers Thiruvika Park 2nd Lane, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.