Guideline Value for Thiru.V.K.Street

Thiru.V.K.Street guideline value

The current guideline value of Thiru.V.K.Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Thiru.V.K.Street has changed

The guideline value for Thiru.V.K.Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 167 per sq.ft, which increased to Rs 188 per sq.ft in 2003, marking a change of 13%. The value then saw a significant rise to Rs 2,345 per sq.ft in 2017, representing an increase of 1147%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 64% increase from the 2017 figure. The register does not have figures for the years 2023, 2012, and 2007.

Overall, from the 2002 figure of Rs 167 per sq.ft to the current 2024 figure of Rs 3,850 per sq.ft, the guideline value has increased by 2205%. This substantial rise indicates a notable change in the valuation of properties on Thiru.V.K.Street over the years.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Thiru.V.K.Street's 2024 figure below that median.

• Throupathi Amman 1st Cross Street (100 ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Throupathi Amman Koil 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Throupathi Amman Koil 1st Street: Rs 4,400 per sq.ft (2024)
• Throupathi Amman Koil 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Throupathi Amman Koil 2nd Street: Rs 4,400 per sq.ft (2024)
• Throupathi Amman Koil 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K.Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiru.V.K.Street?

The Sub Registrar Office that covers Thiru.V.K.Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to the government standards.

When you proceed with a property transaction, the guideline value will influence the stamp duty and registration fees applicable. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiru.V.K.Street?

The current guideline value of Thiru.V.K.Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 167 per sq.ft to Rs 3,850 per sq.ft in 2024, which is an overall increase of 2205%.

What is the land classification for Thiru.V.K.Street?

Thiru.V.K.Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Which Sub Registrar Office should I visit for transactions on Thiru.V.K.Street?

The Velacheri Sub Registrar Office covers Thiru.V.K.Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated for properties in Thiru.V.K.Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 3,46,500 in fees based on the current guideline value.