Guideline Value for Thiru-vi-ka 2nd Street

Thiru-vi-ka 2nd Street guideline value

The current guideline value of Thiru-vi-ka 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thiru-vi-ka 2nd Street has changed

Over the years, the guideline value of Thiru-vi-ka 2nd Street has undergone several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, reflecting a 100% increase. However, the value then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33% before rising again to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has seen the guideline value increase to Rs 1,320 per sq.ft, a rise of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Thiru-vi-ka 2nd Street below that median.

• Thiru-vi-ka 3rd Street: Rs 1,320 per sq.ft (2024)
• Thiru-vi-ka Ist Street: Rs 1,320 per sq.ft (2024)
• Thomas South Street: Rs 1,650 per sq.ft (2024)
• Thomas Street: Rs 3,300 per sq.ft (2024)
• Thomas West Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvarpuram Bajanai Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru-vi-ka 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru-vi-ka 2nd Street?

The Sub Registrar Office that covers Thiru-vi-ka 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kadaperi

The guideline value is an essential factor in property transactions in Kadaperi. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a baseline for negotiations and provides transparency in the transaction process. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Thiru-vi-ka 2nd Street?

The current guideline value of Thiru-vi-ka 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the median guideline value in Kadaperi?

The median guideline value for the 142 streets in Kadaperi under the Tambaram Joint 1 SRO is Rs 1,650 per sq.ft, with Thiru-vi-ka 2nd Street's value being below this median.

What are the stamp duty and registration fees for properties in Thiru-vi-ka 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800, based on the current guideline value of Rs 13,20,000.

Where can I find the Sub Registrar Office for Thiru-vi-ka 2nd Street?

The Sub Registrar Office for Thiru-vi-ka 2nd Street is located at Tambaram Joint 1 Sub Registrar Office, No.26, Mes Road, East Tambaram, Chennai-600059.