Guideline Value for Thiru.Vi.Ka. Street (poli chetty street)

Thiru.Vi.Ka. Street (poli chetty street) guideline value

The current guideline value of Thiru.Vi.Ka. Street (poli chetty street) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Thiru.Vi.Ka. Street (poli chetty street) has changed

The guideline value for Thiru.Vi.Ka. Street has seen several revisions over the years. In 2003, the value was Rs 832 per sq.ft, which increased to Rs 900 per sq.ft in 2007. Following this, there was a significant rise to Rs 3,500 per sq.ft in 2012, but it then dropped to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft from the 2024 revision. Notably, there is no figure available for this street in the 2002 revision.

Examining the changes between the revisions, the value increased by 8% from 2003 to 2007, followed by a remarkable increase of 289% from 2007 to 2012. However, it decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 363%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thiru.Vi.Ka. Street's 2024 figure above this median.

• Thiruneermalai Road (PART): Rs 4,400 per sq.ft (2024)
• Valluvar Pettai: Rs 4,400 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)
• Syed Line: Rs 2,750 per sq.ft (2024)
• Vinayakar Koil Street: Rs 3,300 per sq.ft (2024)
• Xavier Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka. Street (poli chetty street)

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 further calculations.

Which Sub Registrar Office covers Thiru.Vi.Ka. Street (poli chetty street)?

The Sub Registrar Office that covers Thiru.Vi.Ka. Street is 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 Issa Pallavaram

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

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the registration fees are calculated accurately, reflecting the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Thiru.Vi.Ka. Street (poli chetty street) 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 changed significantly from Rs 832 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 363% over this period.

What are the other streets with guideline values in Issa Pallavaram?

Other streets in Issa Pallavaram include Thiruneermalai Road (PART) and Valluvar Pettai, both at Rs 4,400 per sq.ft in 2024, among others with varying rates.

What are the stamp duty and registration fees for properties in Thiru.Vi.Ka. Street?

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

Which office handles registrations for Thiru.Vi.Ka. Street?

The Pallavaram Sub Registrar Office is responsible for handling registrations for Thiru.Vi.Ka. Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.