Guideline Value for Thiru.Vi.Ka. Industrial Estate

Thiru.Vi.Ka. Industrial Estate guideline value

The current guideline value of Thiru.Vi.Ka. Industrial Estate is Rs 7,200 per sq.ft, effective from 1 July 2024. This property is located in Adayar village under the Adayar SRO, classified as Industries Special Type - I.

How the guideline value of Thiru.Vi.Ka. Industrial Estate has changed

The guideline value for Thiru.Vi.Ka. Industrial Estate has seen several revisions over the years. The 2012 revision set the guideline value at Rs 6,500 per sq.ft, which then decreased to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,500 per sq.ft in 2023, and further rose to Rs 7,200 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 11%. Overall, the guideline value has increased by 11% from 2012 to 2024.

Guideline values in Adayar

Adayar village features 92 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, positioning Thiru.Vi.Ka. Industrial Estate's 2024 figure above this median.

• Thulukkanathamman Kovil Street: Rs 6,600 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 6,100 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Street: Rs 6,100 per sq.ft (2024)
• Upparpalayam Anna Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka. Industrial Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 7,200 per sq.ft, the total guideline value amounts to Rs 72,00,000. The stamp duty at 7% would be Rs 5,04,000, and the registration fee at 2% would be Rs 1,44,000, making the total charges Rs 6,48,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiru.Vi.Ka. Industrial Estate?

The Sub Registrar Office covering Thiru.Vi.Ka. Industrial Estate is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Adayar. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. This helps in understanding the financial obligations that arise during a property transaction.

Frequently asked questions

What is the current guideline value of Thiru.Vi.Ka. Industrial Estate?

The current guideline value of Thiru.Vi.Ka. Industrial Estate is Rs 7,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then increased to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,200 per sq.ft in 2024.

What is the land classification for Thiru.Vi.Ka. Industrial Estate?

Thiru.Vi.Ka. Industrial Estate is classified as Industries Special Type - I, indicating its designation for industrial use.

What are the stamp duty and registration fees for property in Thiru.Vi.Ka. Industrial Estate?

For a property valued at Rs 72,00,000, the stamp duty would be Rs 5,04,000 and the registration fee would be Rs 1,44,000, totaling Rs 6,48,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the Thiru.Vi.Ka. Industrial Estate area.