Guideline Value for Thiru-Vi-Ka Street

Thiru-Vi-Ka Street guideline value

The current guideline value of Thiru-Vi-Ka Street is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Kathirvedu village under the Ambattur SRO, classified as Residential Class II Type - III.

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 2003, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The value then surged dramatically to Rs 1,900 per sq.ft in 2012, followed by a decrease to Rs 1,273 per sq.ft in 2017. The 2023 revision set the value at Rs 1,900 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,000 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 5%. The significant rise from 2007 to 2012 was 850%, and from 2003 to 2007, it was 100%. Overall, from 2003 to 2024, the guideline value has increased by 1900%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Thiru-Vi-Ka Street is above this median.

• Thiruvalluvar Street: Rs 1,100 per sq.ft (2024)
• Thirumal Srinivasa Nagar: Rs 2,000 per sq.ft (2024)
• Vaibhav Enclave: Rs 2,800 per sq.ft (2024)
• Veera Ragavalu Nagar: Rs 2,300 per sq.ft (2024)
• Veera Ragavalu Nagar Extension: Rs 2,300 per sq.ft (2024)
• Subramaniya Nagar: Rs 1,300 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total cost for these fees to Rs 1,80,000. 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 Street?

The Sub Registrar Office that covers Thiru-Vi-Ka Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in Kathirvedu, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating applicable duties and fees.

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 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, marking an overall increase of 1900% over the years.

What are the stamp duty and registration fees for property in Thiru-Vi-Ka Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,80,000.

Which Sub Registrar Office handles registrations for Thiru-Vi-Ka Street?

The Ambattur Sub Registrar Office handles registrations for Thiru-Vi-Ka Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the significance of guideline value when buying property?

The guideline value serves as a minimum benchmark for property registration, affecting the stamp duty and registration fees payable during a transaction. It is essential for buyers to understand this value to ensure compliance with legal requirements.