Guideline Value for Thiru.Vi.Ka.Street

Thiru.Vi.Ka.Street guideline value

The current guideline value of Thiru.Vi.Ka.Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Periyakuppam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - III.

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 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. Notably, there are no figures available for Thiru.Vi.Ka.Street for the years 2002 and 2003.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which matches the current value of Thiru.Vi.Ka.Street.

• Thomurarar Nagar: Rs 879 per sq.ft (2024)
• T.T.K. Street: Rs 1,100 per sq.ft (2024)
• Vallalar Street: Rs 1,320 per sq.ft (2024)
• Vallal Pari Street: Rs 1,100 per sq.ft (2024)
• Vanjinathan Street: Rs 1,100 per sq.ft (2024)
• Thantai Peiyar Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Thiru.Vi.Ka.Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Periyakuppam. It serves as a benchmark for determining the price at which the property can be registered. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration process requires that the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the 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 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

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

Thiru.Vi.Ka.Street is classified as Residential Class I Type - III.

Where can I find the registration office for Thiru.Vi.Ka.Street?

The registration office for Thiru.Vi.Ka.Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 77,000.