Guideline Value for Thiruppathi Nagar Main Road

Thiruppathi Nagar Main Road guideline value

The current guideline value of Thiruppathi Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

Over the years, the guideline value for Thiruppathi Nagar Main Road has seen several revisions. Starting from the 2002 revision, the value was Rs 273 per sq.ft. This increased significantly to Rs 297 per sq.ft in 2003, marking a 9% rise. The value then surged dramatically to Rs 1,750 per sq.ft in 2007, which represented a 489% increase. In 2012, the value was recorded at Rs 3,500 per sq.ft, indicating a 100% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. However, this was followed by a substantial increase to Rs 3,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

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 aligns with the current value for Thiruppathi Nagar Main Road.

• Thiruppathi Nagar Vijay 3rd street: Rs 3,850 per sq.ft (2024)
• Thiruppur Koil Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppathi Nagar Main Road

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, calculated at 7%, would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration fees together would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruppathi Nagar Main Road?

The Sub Registrar Office that covers Thiruppathi Nagar Main Road 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 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 stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid discrepancies during registration. This ensures that the transaction is compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar Main Road?

The current guideline value of Thiruppathi Nagar Main Road 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 significantly from Rs 273 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1310% over the years.

What is the registration fee for properties in Thiruppathi Nagar Main Road?

The registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a registration fee of Rs 77,000.

Where is the Sub Registrar Office for Thiruppathi Nagar Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Thiruppathi Nagar Main Road?

Thiruppathi Nagar Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.