Guideline Value for Thiruvengadam Street (Reddy Street Near)

Thiruvengadam Street (Reddy Street Near) guideline value

The current guideline value of Thiruvengadam Street (Reddy Street Near) is Rs 3,300 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 - I.

How the guideline value of Thiruvengadam Street (Reddy Street Near) has changed

The guideline value for Thiruvengadam Street has seen several revisions over the years. In 2007, the guideline value was set at Rs 500 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 500%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

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 guideline value is Rs 4,400 per sq.ft, placing Thiruvengadam Street's 2024 figure below this median.

• Thiruvalluvar Road: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Colony: Rs 6,600 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 3,300 per sq.ft (2024)
• Thirukkai Avenue Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Street (Reddy Street Near)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvengadam Street (Reddy Street Near)?

The Sub Registrar Office that covers Thiruvengadam Street (Reddy Street Near) 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 Virugambakkam

The guideline value is an essential factor in the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street (Reddy Street Near) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, which is higher than the current value of Thiruvengadam Street.

What are the stamp duty and registration fees for properties in Thiruvengadam Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in this area?

The Virugambakkam Sub Registrar Office handles property registrations for Thiruvengadam Street (Reddy Street Near), located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.