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 Meenambakkam village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

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

The guideline value for Thiru-vi-ka Street has seen significant changes over the years. In 2002, the guideline value was Rs 578 per sq.ft, which increased to Rs 675 per sq.ft in 2003, marking a 17% rise. The value continued to grow, reaching Rs 935 per sq.ft in 2007, a 39% increase from the previous revision. By 2017, the value had surged to Rs 2,680 per sq.ft, reflecting a remarkable 187% increase. The 2023 revision saw the value rise to Rs 4,000 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no recorded guideline value for Thiru-vi-ka Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 661%.

Guideline values in Meenambakkam

In Meenambakkam village, there are 17 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, indicating that Thiru-vi-ka Street's 2024 figure of Rs 4,400 per sq.ft is above the median.

• Thiruvalluvar Street: Rs 4,400 per sq.ft (2024)
• V.O.C. Street: Rs 4,400 per sq.ft (2024)
• Rajeev Gandhi Street: Rs 1,650 per sq.ft (2024)
• Pandian Street: Rs 3,300 per sq.ft (2024)
• Oowaiyar Street: Rs 3,300 per sq.ft (2024)
• Kumaran Street: Rs 3,850 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 cost for these fees 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Thiru-vi-ka Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Meenambakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. The guideline value ensures that the fees are calculated based on an official valuation of the property, which helps maintain transparency in real estate transactions.

When a property is sold, the guideline value serves as a reference point for both the buyer and seller. It is important for buyers to be aware of the current guideline value to ensure they are paying a fair amount in taxes and fees during the registration process.

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 increased significantly from Rs 578 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 661%.

What classification does Thiru-vi-ka Street fall under?

Thiru-vi-ka Street is classified as Commercial Class I Type - II, which indicates its commercial usage and potential.

What are the stamp duty rates for properties in Thiru-vi-ka Street?

The stamp duty rate for properties in Thiru-vi-ka Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Thiru-vi-ka Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.