Guideline Value for Thiru Ve.Ka Road

Thiru Ve.Ka Road guideline value

The current guideline value of Thiru Ve.Ka Road in Chembakkam village is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Thiru Ve.Ka Road has changed

The guideline value for Thiru Ve.Ka Road has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,300 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, there has been an 8% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thiru Ve.Ka Road's 2024 guideline value is below this median.

• Thiru Ve.Ka 2nd Street: Rs 1,400 per sq.ft (2024)
• Thiru Ve.Ka 1st Street: Rs 1,400 per sq.ft (2024)
• Thiru.Ve.Ka Street: Rs 1,400 per sq.ft (2024)
• Thiru Vi.Ka 2nd Cross Street: Rs 1,400 per sq.ft (2024)
• Thirunavukarasu Street Extn: Rs 1,600 per sq.ft (2024)
• Thirunavokarasu Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Ve.Ka Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru Ve.Ka Road?

The Sub Registrar Office that covers Thiru Ve.Ka Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will assess the guideline value to calculate the necessary fees. Buyers and sellers must be aware that the stamp duty is charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Thiru Ve.Ka Road?

The current guideline value of Thiru Ve.Ka Road is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, an 8% rise.

What is the land classification for Thiru Ve.Ka Road?

Thiru Ve.Ka Road is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thiru Ve.Ka Road?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000, and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which office handles property registrations for Thiru Ve.Ka Road?

The Selaiyur Sub Registrar Office handles property registrations for Thiru Ve.Ka Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.