Guideline Value for Thiruppathi Nagar 6th Street

Thiruppathi Nagar 6th Street guideline value

The current guideline value of Thiruppathi Nagar 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thiruppathi Nagar 6th Street has changed

The guideline value for Thiruppathi Nagar 6th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 3,500 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 2,345 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and then further rose to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no recorded guideline values for the years 2002, 2003, and 2007 for Thiruppathi Nagar 6th Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current value for Thiruppathi Nagar 6th Street.

• Thiruppathi Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppathi Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruppathi Nagar 6th Street?

The Thiruppathi Nagar 6th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable charges, which are based on either the guideline value or the actual sale price, whichever is higher. This ensures that the transaction is recorded accurately and fairly in the official records.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar 6th Street?

The current guideline value of Thiruppathi Nagar 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Thiruppathi Nagar 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Thiruppathi Nagar 6th Street?

Thiruppathi Nagar 6th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.