Guideline Value for Thiru Vi Ka Street

Thiru Vi Ka Street guideline value

The current guideline value of Thiru Vi Ka Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thiru Vi Ka Street has changed

The guideline value for Thiru Vi Ka Street has seen several revisions over the years. In the 2017 revision, the value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 880 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which matches the guideline value of Thiru Vi Ka Street.

• Udayam Nagar: Rs 880 per sq.ft (2024)
• Udhayam Nagar Extn: Rs 880 per sq.ft (2024)
• Thirumalai Nagar: Rs 770 per sq.ft (2024)
• Vaigundha Perumal Koil Street: Rs 880 per sq.ft (2024)
• Thamarai Kanni Amman Koil Street: Rs 880 per sq.ft (2024)
• Tellus Avenue: Rs 1,930 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru Vi Ka Street?

The Sub Registrar Office that covers Thiru Vi Ka 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 Manimangalam A

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives a fair amount based on the established guideline value.

Frequently asked questions

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

The current guideline value of Thiru Vi Ka Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty rates for properties in Thiru Vi Ka Street?

The stamp duty rate for properties in Thiru Vi Ka Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Thiru Vi Ka Street?

The Padappai Sub Registrar Office handles registrations for Thiru Vi Ka Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How can I calculate the registration fees for a property?

You can calculate the registration fees for a property using the stamp duty and registration fee calculator available online.