Guideline Value for Therkumada Veethi

Therkumada Veethi guideline value

The current guideline value of Therkumada Veethi is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Therkumada Veethi has changed

The guideline value for Therkumada Veethi has seen several revisions over the years. In 2002, the value was Rs 480 per sq.ft, which increased to Rs 521 per sq.ft in 2003. The subsequent revision in 2007 saw a significant rise to Rs 1,000 per sq.ft, followed by a jump to Rs 3,500 per sq.ft in 2012. However, the value decreased to Rs 2,345 per sq.ft in 2017, before increasing again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft.

Between the revisions, the changes were notable. From 2017 to 2023, there was a 49% increase, while the jump from 2012 to 2017 was a decrease of 33%. The revision from 2007 to 2012 showed a substantial increase of 250%, and from 2003 to 2007, the increase was 92%. Overall, from 2002 to 2024, the guideline value has increased by 692%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which is equal to the guideline value for Therkumada Veethi.

• Therku Jaganatha Nagar Third Prathana Salai: Rs 3,800 per sq.ft (2024)
• Therkumada Veethi 1,2,3 and 4th Street: Rs 5,500 per sq.ft (2024)
• Therku Jaganatha Nagar Third Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therkumada Veethi (Vijayalakshipuram): Rs 5,500 per sq.ft (2024)
• Therku Jaganatha Nagar Sixth Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Redkills Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Therkumada Veethi

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 Therkumada Veethi?

The Sub Registrar Office that covers Therkumada Veethi is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Konnur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that all transactions are recorded accurately and in accordance with the law.

Frequently asked questions

What is the current guideline value of Therkumada Veethi?

The current guideline value of Therkumada Veethi is Rs 3,800 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 480 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Konnur village?

The median guideline value in Konnur village for 2024 is Rs 3,800 per sq.ft, which is the same as the guideline value for Therkumada Veethi.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property with a guideline value of Rs 38,00,000, the total fees would amount to Rs 3,42,000.

Where is the Sub Registrar Office for Therkumada Veethi located?

The Sub Registrar Office for Therkumada Veethi is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.