Guideline Value for Thiru.Vi.Ka Nagar Main Road

Thiru.Vi.Ka Nagar Main Road guideline value

The current guideline value of Thiru.Vi.Ka Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Mixed Type - II.

How the guideline value of Thiru.Vi.Ka Nagar Main Road has changed

The guideline value for Thiru.Vi.Ka Nagar Main Road has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 775%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 has increased it further to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has risen by 863%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Thiru.Vi.Ka Nagar Main Road's 2024 figure above this median.

• Thiru.Vi.Ka.Nagar 2nd Street: Rs 2,380 per sq.ft (2024)
• Thiru.VI.Ka 1 And 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Thiyagarajan Street: Rs 2,420 per sq.ft (2024)
• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)
• Thoilkapiyam Street: Rs 2,970 per sq.ft (2024)
• Thiruvaluvar Nagar & Street: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka Nagar Main Road

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, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru.Vi.Ka Nagar Main Road?

The Thiru.Vi.Ka Nagar Main Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Hastinapuram. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees 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 Nagar Main Road?

The current guideline value of Thiru.Vi.Ka Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 863% over the years.

What is the land classification for Thiru.Vi.Ka Nagar Main Road?

The land classification for Thiru.Vi.Ka Nagar Main Road is Mixed Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Thiru.Vi.Ka Nagar Main Road?

The Pallavaram Sub Registrar Office handles the registration for Thiru.Vi.Ka Nagar Main Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.