Guideline Value for Thiru.Vi.Ka. 1st Street

Thiru.Vi.Ka. 1st Street guideline value

The current guideline value of Thiru.Vi.Ka. 1st Street in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Thiru.Vi.Ka. 1st Street has changed

The guideline value for Thiru.Vi.Ka. 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, this value decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Thiru.Vi.Ka. 1st Street's 2024 figure above this median.

• Thiru.Vi.Ka. Street: Rs 1,650 per sq.ft (2024)
• Thiyagi Chinnaswamy Street: Rs 1,650 per sq.ft (2024)
• Thiyagi Sankaralinganar Nadar Street: Rs 1,100 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Thiruveethiamman Cross Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvar Pradhana Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka. 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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.Vi.Ka. 1st Street?

The Thiru.Vi.Ka. 1st Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as a reference for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the official rates set by the government. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thiru.Vi.Ka. 1st Street?

The current guideline value of Thiru.Vi.Ka. 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 313% over the years.

What is the registration office for Thiru.Vi.Ka. 1st Street?

The registration office for Thiru.Vi.Ka. 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the property is registered at an official rate set by the government.