Guideline Value for Thiruvengadam Street

Thiruvengadam Street guideline value

The current guideline value of Thiruvengadam Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kottur village and falls under the Adayar SRO, classified as Residential Class I Type - I.

How the guideline value of Thiruvengadam Street has changed

The guideline value for Thiruvengadam Street has undergone several revisions over the years. Starting from the 2002 revision, the value was set at Rs 846 per sq.ft. In 2003, it increased significantly to Rs 912 per sq.ft, marking an 8% rise. The value continued to rise sharply, reaching Rs 6,305 per sq.ft in 2007, which was a remarkable 591% increase from the previous year. However, in 2012, the value adjusted downwards to Rs 8,000 per sq.ft, reflecting a decrease of 33%.

From 2012 to 2017, the guideline value saw a notable increase to Rs 5,360 per sq.ft, and then it rose again to Rs 8,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, showing a 10% increase from the previous year. The register has no figure for the years not mentioned in this list.

Guideline values in Kottur

Kottur village has a total of 114 streets under the Adayar SRO with a 2024 guideline value range from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, placing Thiruvengadam Street's 2024 figure above this median.

• Thiruvalluvar Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Thiruvalluvar Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 5,000 per sq.ft (2024)
• Upparpalayam Anna Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam Street?

The Sub Registrar Office that covers Thiruvengadam Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 846 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, an overall increase of 940%.

What is the stamp duty rate for properties in Thiruvengadam Street?

The stamp duty rate for properties in Thiruvengadam Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the other streets in Kottur with their guideline values?

Other streets in Kottur include Thiruvalluvar Nagar 4th Street, 3rd Street, 2nd Street, 1st Street, Thulukkanathamman Koil Street, and Upparpalayam Anna Street, all valued at Rs 5,000 per sq.ft in 2024.