Guideline Value for Thiru V.K. Street

Thiru V.K. Street guideline value

The current guideline value of Thiru V.K. Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thiru V.K. Street has changed

The guideline value for Thiru V.K. Street has undergone several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which significantly increased to Rs 2,400 per sq.ft in 2012, marking a rise of 586%. However, it then decreased to Rs 1,608 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, reaching Rs 2,400 per sq.ft in 2023, followed by a further increase to Rs 2,640 per sq.ft in 2024, which is a rise of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Thiru V.K. Street. Overall, from 2007 to 2024, the guideline value has increased by 654%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Thiru V.K. Street's 2024 figure above that median.

• Thiyagarayar Street: Rs 2,310 per sq.ft (2024)
• Thiyagi Viswanatha das Nagar: Rs 1,650 per sq.ft (2024)
• Thiru Venkatapuram: Rs 1,980 per sq.ft (2024)
• Thiruvengada Nagar Church Street: Rs 2,310 per sq.ft (2024)
• Tirupur Kumaran Street: Rs 3,960 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru V.K. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees together to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru V.K. Street?

The Sub Registrar Office that covers Thiru V.K. Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing a property.

When selling a property, the guideline value can influence the sale price, as it provides a reference point for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Thiru V.K. Street?

The current guideline value of Thiru V.K. Street is Rs 2,640 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 350 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Thiru V.K. Street?

The registration office for Thiru V.K. Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Thiru V.K. Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,84,800 at the current guideline value.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur for 2024 is Rs 2,310 per sq.ft, which is lower than the current guideline value of Thiru V.K. Street.