Guideline Value for Thiru.vi.ka. Street

Thiru.vi.ka. Street guideline value

The current guideline value of Thiru.vi.ka. Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sholavaram village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiru.vi.ka. Street has changed

The guideline value for Thiru.vi.ka. Street has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 175%, showcasing significant changes over the years.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, placing Thiru.vi.ka. Street's 2024 figure below this median.

• Thiruvalluvar Street: Rs 550 per sq.ft (2024)
• Thattara Street: Rs 550 per sq.ft (2024)
• Sun City Phase-V: Rs 950 per sq.ft (2024)
• Sri Vinayaga Avenue: Rs 550 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 660 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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 Sholavaram

The guideline value is a crucial factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and ensures compliance with local regulations.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with notable increases and decreases in between.

What is the land classification of Thiru.vi.ka. Street?

Thiru.vi.ka. Street is classified as Residential Class III Type - I.

What are the other streets with the same guideline value?

Other streets in Sholavaram with the same guideline value of Rs 550 per sq.ft in 2024 include Thiruvalluvar Street, Thattara Street, Sri Vinayaga Avenue, and Sri Shanmuga Nagar.

Where is the Sub Registrar Office located for Thiru.vi.ka. Street?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.