Guideline Value for Thiru.Vi.Ka.Road

Thiru.Vi.Ka.Road guideline value

The current guideline value of Thiru.Vi.Ka.Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Class I Type - I.

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

The guideline value for Thiru.Vi.Ka.Road has seen significant changes over the years. In 2002, the guideline value was Rs 2,413 per sq.ft. This increased to Rs 4,030 per sq.ft in 2003, marking a 67% rise. By 2007, the value further increased to Rs 5,430 per sq.ft, reflecting a 35% change. The 2012 revision saw a notable jump to Rs 12,000 per sq.ft, which was a 121% increase from the previous figure. However, in 2017, the guideline value dropped to Rs 8,040 per sq.ft, a decrease of 33%. The value then rose again to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in this article. The overall change from 2002 to 2024 shows an increase of 447% in the guideline value for Thiru.Vi.Ka.Road.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Thiru.Vi.Ka.Road's 2024 figure above this median.

• Thoppu Venkatachalam Street: Rs 6,600 per sq.ft (2024)
• Thiruvateeswaran Sannathi Street: Rs 6,600 per sq.ft (2024)
• Thulasinga Perumal Koil 1st Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil 2nd Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil South Mada Street: Rs 6,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000. Together, these fees would total Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thiru.Vi.Ka.Road is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Triplicane. It determines the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties. This helps in maintaining transparency in property transactions and ensures that both parties are aware of the financial obligations involved.

Frequently asked questions

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

The current guideline value of Thiru.Vi.Ka.Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 2,413 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 447%.

What is the land classification of Thiru.Vi.Ka.Road?

Thiru.Vi.Ka.Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The stamp duty is charged at 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 11,88,000.

Where is the Sub Registrar Office for Thiru.Vi.Ka.Road located?

The Sub Registrar Office for Thiru.Vi.Ka.Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.