Guideline Value for Thiru.Vi.Ka. Street

Thiru.Vi.Ka. Street guideline value

The current guideline value of Thiru.Vi.Ka. Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class I 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 2002, the value was Rs 1,264 per sq.ft, which changed to Rs 128 per sq.ft in 2003, marking a significant drop. The value then increased to Rs 400 per sq.ft in 2007, followed by a substantial rise to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 31%. The register has no figures for revisions in years other than those listed.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, indicating that Thiru.Vi.Ka. Street's 2024 figure is above this median.

• Thiru.Vi.Ka. 1st 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)
• T.K. Bose Nagar: Rs 1,102 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 1,650 per sq.ft, the 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, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thiru.Vi.Ka. Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a reference used during the registration of property transactions in Puzhal. It helps determine the stamp duty and registration fees that need to be paid based on the property's assessed value.

When buying or selling property, the guideline value is crucial as it ensures that the transaction is recorded accurately and that the appropriate fees are collected. It is important for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 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 1,264 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting various increases and decreases across the revisions.

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

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

How is stamp duty calculated for properties in Thiru.Vi.Ka. Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 based on the current guideline value.

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with similar guideline values include Thiru.Vi.Ka. 1st Street, Thiyagi Chinnaswamy Street, and Thiruveethiamman Koil Street, all valued at Rs 1,650 per sq.ft in 2024.