Guideline Value for TheruVeethiamman Kovil Street

TheruVeethiamman Kovil Street guideline value

The current guideline value of TheruVeethiamman Kovil Street is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village and falls under the Sunguvarchattram SRO with a land classification of Residential Class II Type - I.

How the guideline value of TheruVeethiamman Kovil Street has changed

According to the guideline value register, there are no figures for TheruVeethiamman Kovil Street in the revisions from the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show a significant change: the 2023 revision set the guideline value at Rs 150 per sq.ft, which was then increased to Rs 275 per sq.ft in the 2024 revision, marking an increase of 83%.

This change reflects the most recent adjustments made to the guideline values in the area, indicating a notable rise in the value assigned to properties on this street.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value. The values range from Rs 200 to Rs 1,418 per sq.ft, with a median value of Rs 305 per sq.ft. TheruVeethiamman Kovil Street's 2024 figure of Rs 275 per sq.ft is below this median.

• Thabalmedu: Rs 305 per sq.ft (2024)
• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)
• VairaKula Street: Rs 305 per sq.ft (2024)
• Sri umariamman Kovil Street: Rs 200 per sq.ft (2024)
• Sri Renugambal Nagar: Rs 505 per sq.ft (2024)
• Srinivasapuram: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in TheruVeethiamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500. Together, the total cost of these fees would be Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on the fees applicable.

Which Sub Registrar Office covers TheruVeethiamman Kovil Street?

The Sub Registrar Office that covers TheruVeethiamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in real estate transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of TheruVeethiamman Kovil Street?

The current guideline value of TheruVeethiamman Kovil Street is Rs 275 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 150 per sq.ft in 2023 to Rs 275 per sq.ft in 2024, which is an increase of 83%.

What is the land classification for TheruVeethiamman Kovil Street?

TheruVeethiamman Kovil Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for TheruVeethiamman Kovil Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,75,000 would incur a stamp duty of Rs 19,250 at 7%.