Guideline Value for Thirukkai Avenue Street

Thirukkai Avenue Street guideline value

The current guideline value of Thirukkai Avenue Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thirukkai Avenue Street has changed

The guideline value for Thirukkai Avenue Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 423 per sq.ft. This increased to Rs 469 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 500 per sq.ft in 2007, which was a 7% increase. Following this, the value experienced a significant jump to Rs 2,500 per sq.ft in 2012, reflecting a 400% increase. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 brought it to Rs 2,750 per sq.ft, marking a 10% increase.

Throughout these revisions, there are no years where the register has no figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 550%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Thirukkai Avenue Street's 2024 figure below that median.

• Tharachand Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar Annex: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirukkai Avenue Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirukkai Avenue Street?

The Sub Registrar Office that covers Thirukkai Avenue Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Virugambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs involved in the registration process. Ensuring that the property is valued correctly can help avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Thirukkai Avenue Street?

The current guideline value of Thirukkai Avenue Street is Rs 2,750 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 423 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 550%.

What is the land classification for Thirukkai Avenue Street?

Thirukkai Avenue Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Thirukkai Avenue Street?

The Sub Registrar Office for Thirukkai Avenue Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.