Guideline Value for THIRUVIKA STREET

Thiruvika Street guideline value

The current guideline value of Thiruvika Street in Thandurai village, under the Avadi SRO, is Rs 988 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Thiruvika Street has changed

The guideline value for Thiruvika Street has seen significant changes over the years. From the 2002 revision, where the value was Rs 118 per sq.ft, it increased to Rs 135 per sq.ft in 2003, marking a 14% rise. The value then rose dramatically to Rs 386 per sq.ft in 2007, reflecting a 186% increase. In 2012, the value was Rs 900 per sq.ft, which was a 133% increase from the previous revision. However, it dropped to Rs 603 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 988 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 737%.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median guideline value is Rs 988 per sq.ft, which matches the current value for Thiruvika Street. Below are other streets in Thandurai:

• Thiruvika Street, Kakkanji Nagar: Rs 988 per sq.ft (2024)
• Thottakaran Street: Rs 800 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)
• Thzhu Noyali Kudiyuruppu: Rs 800 per sq.ft (2024)
• Thiruvalluvar St, (M.T.H.Road Southern Side): Rs 1,300 per sq.ft (2024)
• Thiruvalluvar St, Kamarajapuram: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvika Street

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value would be Rs 9,88,000. The stamp duty at 7% would amount to Rs 69,160, while the registration fee at 2% would be Rs 19,760, bringing the total to Rs 88,920. It is important to note that the 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 more details.

Which Sub Registrar Office covers Thiruvika Street?

The Sub Registrar Office that covers Thiruvika Street 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 Thandurai

The guideline value is a crucial factor in the registration of property transactions in Thandurai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential to note that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvika Street?

The current guideline value of Thiruvika Street is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 118 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, reflecting an overall increase of 737%.

What is the land classification for Thiruvika Street?

Thiruvika Street falls under the Residential Class II Type - I land classification.

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

The Sub Registrar Office for Thiruvika Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Thiruvika Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 69,160.