Guideline Value for Thiru.Ve.Ka Street

Thiru.Ve.Ka Street guideline value

The current guideline value of Thiru.Ve.Ka Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thiru.Ve.Ka Street has changed

The guideline value of Thiru.Ve.Ka Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 750 per sq.ft. This increased to Rs 1,300 per sq.ft in 2012, marking a significant rise of 73%. However, the value then dropped to Rs 871 per sq.ft in 2017, a decrease of 33%. The guideline value saw a substantial increase to Rs 1,300 per sq.ft in 2023, followed by another rise to Rs 1,400 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 87%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Thiru.Ve.Ka Street's 2024 figure below that median.

• Thiru Ve.Ka Road: Rs 1,400 per sq.ft (2024)
• Thiru Ve.Ka 2nd Street: Rs 1,400 per sq.ft (2024)
• Thiru Ve.Ka 1st Street: Rs 1,400 per sq.ft (2024)
• Thiru Vi.Ka 2nd Cross Street: Rs 1,400 per sq.ft (2024)
• Thirunavukarasu Street Extn: Rs 1,600 per sq.ft (2024)
• Thirunavokarasu Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Ve.Ka Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. 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 details.

Which Sub Registrar Office covers Thiru.Ve.Ka Street?

The Sub Registrar Office that covers Thiru.Ve.Ka Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is an essential factor in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair value of the property in the market. It is crucial for buyers to be aware of the guideline value to avoid overpaying for a property and to ensure that they comply with the legal requirements during registration.

Frequently asked questions

What is the current guideline value of Thiru.Ve.Ka Street?

The current guideline value of Thiru.Ve.Ka Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, showing an overall increase of 87% over the years.

What are the other streets with the same guideline value in Chembakkam?

Other streets in Chembakkam with the same guideline value of Rs 1,400 per sq.ft in 2024 include Thiru Ve.Ka Road, Thiru Ve.Ka 2nd Street, Thiru Ve.Ka 1st Street, and Thiru Vi.Ka 2nd Cross Street.

What is the registration fee for properties in Thiru.Ve.Ka Street?

The registration fee for properties in Thiru.Ve.Ka Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 14,00,000, the registration fee would be Rs 28,000.

Where can I find the Sub Registrar Office for Thiru.Ve.Ka Street?

The Sub Registrar Office for Thiru.Ve.Ka Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.