Guideline Value for Thiru Vi. Ka .Street

Thiru Vi. Ka .Street guideline value

The current guideline value of Thiru Vi. Ka .Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiru Vi. Ka .Street has changed

The guideline value for Thiru Vi. Ka .Street has seen significant changes over the years. In 2002, the guideline value was Rs 52 per sq.ft, which increased to Rs 57 per sq.ft in 2003. The next notable revision occurred in 2007, where the value surged to Rs 250 per sq.ft, marking a substantial increase of 339%. Following this, the value rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 500% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value climbed again to Rs 1,500 per sq.ft in 2023, and most recently, it has risen to Rs 1,700 per sq.ft in 2024, an increase of 13%.

Overall, from 2002 to 2024, the guideline value has increased by a remarkable 3169%. There are no figures available for revisions in years not mentioned in the provided data.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thiru Vi. Ka .Street's 2024 figure is below this median.

• Thresa Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Cross Street: Rs 1,700 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. 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 precise calculations.

Which Sub Registrar Office covers Thiru Vi. Ka .Street?

The Sub Registrar Office that covers Thiru Vi. Ka .Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

During the registration process, the seller and buyer must consider the guideline value to ensure compliance with local regulations. The fees are calculated based on this value, which is essential for the legal transfer of property ownership.

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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 52 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 3169% over the years.

What are the stamp duty and registration fees for properties in Thiru Vi. Ka .Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Thiru Vi. Ka .Street?

The Neelankarai Sub Registrar Office handles property registrations for Thiru Vi. Ka .Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors including location, land classification, and historical revisions over the years.