Guideline Value for Thiruppathi Nagar Vijay 3rd street

Thiruppathi Nagar Vijay 3rd street guideline value

The current guideline value of Thiruppathi Nagar Vijay 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruppathi Nagar Vijay 3rd street has changed

The guideline value for Thiruppathi Nagar Vijay 3rd street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,500 per sq.ft. In 2017, the value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, 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 is Rs 3,850 per sq.ft, which is the same as the current value for Thiruppathi Nagar Vijay 3rd street.

• Thiruppathi Nagar Main Road: 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 Vijay 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruppathi Nagar Vijay 3rd street?

The Sub Registrar Office that covers Thiruppathi Nagar Vijay 3rd 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 information.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal property transfers. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the transaction must be registered at the appropriate Sub Registrar Office, where the guideline value will be referenced. This ensures that the correct fees are applied based on the established rates, which helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thiruppathi Nagar Vijay 3rd street?

The current guideline value of Thiruppathi Nagar Vijay 3rd 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. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, showing a significant rise of 49% from 2017 to 2023.

What is the land classification for Thiruppathi Nagar Vijay 3rd street?

The land classification for Thiruppathi Nagar Vijay 3rd street is Residential Class II Type - I. This classification impacts the guideline value and the intended use of the land.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Thiruppathi Nagar Vijay 3rd street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.