Guideline Value for Thiru-Vi-Ka Street

Thiru-Vi-Ka Street guideline value

The current guideline value of Thiru-Vi-Ka Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class I Type - II.

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

The guideline value for Thiru-Vi-Ka Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The value then saw a substantial increase of 49% to reach Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Thiru-Vi-Ka Street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Thiru-Vi-Ka Street.

• Thiruveethi Amman Koil Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• T.S.D.Nagar: Rs 4,900 per sq.ft (2024)
• Thirumular Street: Rs 3,300 per sq.ft (2024)
• Thillaiyadi Valliyammai Nagar: Rs 4,400 per sq.ft (2024)
• Vallalar Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Thiru-Vi-Ka Street falls under the AnnaNagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of properties in Koyakbedu. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that these fees are accounted for in their financial planning.

When a property is sold, the guideline value is often referenced to determine the official value of the property for taxation purposes. This ensures that both parties are aware of the financial implications of the transaction.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Thiru-Vi-Ka Street?

Thiru-Vi-Ka Street is classified as Residential Class I Type - II under the AnnaNagar SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles registrations for Thiru-Vi-Ka Street?

The AnnaNagar Sub Registrar Office handles registrations for Thiru-Vi-Ka Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.