Guideline Value for Thiru-vi-ka Ist Street

Thiru-vi-ka Ist Street guideline value

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

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

The guideline value for Thiru-vi-ka Ist Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in 2017, it decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The value then saw significant growth, rising to Rs 1,200 per sq.ft in 2023, and further increasing to Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes between the revisions illustrate the fluctuations in the property values in this area, with the most notable growth occurring between 2017 and 2023, where there was a 49% increase.

Guideline values in Kadaperi

In Kadaperi, there are 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 value for these streets is Rs 1,650 per sq.ft, indicating that the 2024 guideline value of Thiru-vi-ka Ist Street is below this median.

• Thiru-vi-ka 3rd Street: Rs 1,320 per sq.ft (2024)
• Thiru-vi-ka 2nd 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiru-vi-ka Ist Street?

The Thiru-vi-ka Ist Street is covered by 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 plays a crucial role in the registration process when buying or selling property in Kadaperi. It is used as a benchmark to determine the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thiru-vi-ka Ist 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 from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification for Thiru-vi-ka Ist Street?

Thiru-vi-ka Ist Street is classified as Residential Class I Type - III.

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

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

How are stamp duty and registration fees calculated for properties in Kadaperi?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur specific fees based on the established rates.