Guideline Value for Thiru Vi Ka Nagar

Thiru Vi Ka Nagar guideline value

The current guideline value of Thiru Vi Ka Nagar, located in Sembiam village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Thiru Vi Ka Nagar has changed

The guideline value for Thiru Vi Ka Nagar has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 394 per sq.ft. This increased to Rs 427 per sq.ft in 2003, representing an 8% increase. The value continued to rise significantly, reaching Rs 800 per sq.ft in 2007, which was a 87% increase from the previous revision. The 2012 revision saw a drop to Rs 2,500 per sq.ft, a decrease of 213% from 2007. The value then increased to Rs 1,675 per sq.ft in 2017, marking a 49% increase from 2012. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in 2024, which is an 8% rise.

Overall, from 2002 to 2024, the guideline value has increased by 585%. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Thiru Vi Ka Nagar.

• Thitty Thottam 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Vi Ka Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiru Vi Ka Nagar?

The Sub Registrar Office covering Thiru Vi Ka Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an important factor when registering property transactions in Sembiam. It serves as a base for calculating stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Thiru Vi Ka Nagar?

The current guideline value of Thiru Vi Ka Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 394 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 585% over the years.

What are the stamp duty and registration fees for a property in Thiru Vi Ka Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Thiru Vi Ka Nagar?

The Sembiam Sub Registrar Office handles registrations for Thiru Vi Ka Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Thiru Vi Ka Nagar?

Thiru Vi Ka Nagar is classified under Residential Class I Type - I, which indicates its suitability for residential purposes.