Guideline Value for Thiru.Vi.Ka Street

Thiru.Vi.Ka Street guideline value

The current guideline value of Thiru.Vi.Ka Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village, under the Padappai SRO, and is classified as Residential Special Type - I.

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

The guideline value for Thiru.Vi.Ka Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 33%. However, the value saw a significant increase of 49% to reach Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Thiru.Vi.Ka Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Thiru.Vi.Ka Street.

• Thiruvalluvar Street: Rs 1,760 per sq.ft (2024)
• Thirumalai Nagar: Rs 2,200 per sq.ft (2024)
• Vaigaraiammal Koil Street: Rs 1,210 per sq.ft (2024)
• Vallalar Street: Rs 1,210 per sq.ft (2024)
• Theeraj Avenue: Rs 2,200 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Thiru.Vi.Ka Street falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process adheres to the stipulated legal requirements.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process. Buyers must be aware of the current guideline value to ensure they are paying the correct fees during registration.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

What is the land classification of Thiru.Vi.Ka Street?

Thiru.Vi.Ka Street is classified as Residential Special Type - I under the Padappai SRO.

Where can I find the registration office for Thiru.Vi.Ka Street?

The registration office for Thiru.Vi.Ka Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.