Guideline Value for Thiru. Vi.Ka. Street (Ethiraj Nagar)

Thiru. Vi.Ka. Street (Ethiraj Nagar) guideline value

The current guideline value of Thiru. Vi.Ka. Street (Ethiraj Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, with a land classification of Residential Class III Type - II.

How the guideline value of Thiru. Vi.Ka. Street (Ethiraj Nagar) has changed

The guideline value for Thiru. Vi.Ka. Street (Ethiraj Nagar) has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which then increased significantly to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023 and is now Rs 4,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 513%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which matches the current value of Thiru. Vi.Ka. Street (Ethiraj Nagar).

• Thiru.Vi.Ka. Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppan 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppan Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppusamy Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Surendran Street: Rs 3,300 per sq.ft (2024)
• Tholkappiar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru. Vi.Ka. Street (Ethiraj Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 specific calculations.

Which Sub Registrar Office covers Thiru. Vi.Ka. Street (Ethiraj Nagar)?

The Sub Registrar Office that covers Thiru. Vi.Ka. Street (Ethiraj Nagar) is the Ashok Nagar 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 Kodambakkam

The guideline value is crucial during property transactions in Kodambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential costs that must be factored into any real estate transaction.

Frequently asked questions

What is the current guideline value of Thiru. Vi.Ka. Street (Ethiraj Nagar)?

The current guideline value of Thiru. Vi.Ka. Street (Ethiraj Nagar) is Rs 4,900 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 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 513% over the years.

What is the land classification for Thiru. Vi.Ka. Street (Ethiraj Nagar)?

The land classification for Thiru. Vi.Ka. Street (Ethiraj Nagar) is Residential Class III Type - II.

Where can I find the registration office for Thiru. Vi.Ka. Street (Ethiraj Nagar)?

The registration office for Thiru. Vi.Ka. Street (Ethiraj Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, the stamp duty for a property valued at Rs 49,00,000 would be Rs 3,43,000 at a rate of 7%.