Guideline Value for Thiru Vi.Ka 2nd Cross Street

Thiru Vi.Ka 2nd Cross Street guideline value

The current guideline value of Thiru Vi.Ka 2nd Cross Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Thiru Vi.Ka 2nd Cross Street has changed

The guideline value for Thiru Vi.Ka 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,300 per sq.ft. It then decreased to Rs 871 per sq.ft in 2017, before increasing to Rs 1,300 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 1,400 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a current guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, making the 2024 figure for Thiru Vi.Ka 2nd Cross Street below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, while the registration fee at 2% would be Rs 28,000. Together, the fees would total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru Vi.Ka 2nd Cross Street?

The Thiru Vi.Ka 2nd Cross Street is covered by 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 when buying or selling property in Chembakkam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value to avoid legal complications. The registration office will refer to the guideline value to assess the applicable duties and fees based on the property’s classification and location.

Frequently asked questions

What is the current guideline value of Thiru Vi.Ka 2nd Cross Street?

The current guideline value of Thiru Vi.Ka 2nd Cross Street 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 changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current guideline value of Thiru Vi.Ka 2nd Cross Street.

What are the stamp duty and registration fees for properties in Thiru Vi.Ka 2nd Cross Street?

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 Vi.Ka 2nd Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Thiru Vi.Ka 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.