Guideline Value for Thiru.Vi.Ka.Nagar

Thiru.Vi.Ka.Nagar guideline value

The current guideline value of Thiru.Vi.Ka.Nagar is Rs 4,200 per sq.ft, effective from 1 July 2024. This area is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this location is Mixed Type - I.

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

The guideline value for Thiru.Vi.Ka.Nagar has seen several revisions over the years. In 2002, the value was Rs 345 per sq.ft, which increased to Rs 376 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting an increase of +86%. By 2012, the guideline value was Rs 3,900 per sq.ft, demonstrating a substantial increase of +457% from the previous revision. However, there was a decrease to Rs 2,613 per sq.ft in 2017, which represented a decline of -33%.

In 2023, the value rose again to Rs 3,900 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 4,200 per sq.ft, an increase of +8%. Overall, from 2002 to 2024, the guideline value has increased by +1117%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, placing Thiru.Vi.Ka.Nagar above this median.

• Thiruvenkadam Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Thitty Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam Lakshmi Nagar: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000. The stamp duty at 7% would amount to Rs 2,94,000, while the registration fee at 2% would be Rs 84,000. Together, the total cost for these fees would be Rs 3,78,000. 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.Nagar?

The Sub Registrar Office that covers Thiru.Vi.Ka.Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold or purchased, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the transaction is processed fairly and in accordance with the established rates set by the government.

Frequently asked questions

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

The current guideline value of Thiru.Vi.Ka.Nagar is Rs 4,200 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 345 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of +1117% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,78,000.

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

The Sembiam Sub Registrar Office covers Thiru.Vi.Ka.Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Thiru.Vi.Ka.Nagar?

The land classification for Thiru.Vi.Ka.Nagar is Mixed Type - I, indicating a diverse use of land in the area.