Guideline Value for Thiruvengadam Street

Thiruvengadam Street guideline value

The current guideline value of Thiruvengadam Street in Pallipattu village, under the Adayar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thiruvengadam Street has changed

The guideline value for Thiruvengadam Street has seen significant changes over the years. In 2002, the guideline value was Rs 927 per sq.ft, which increased to Rs 1,014 per sq.ft in 2003, marking a 9% rise. The value then surged dramatically to Rs 6,305 per sq.ft in 2007, reflecting a substantial increase of 522%. However, from 2007 to 2012, the value adjusted to Rs 7,000 per sq.ft, a decrease of 11%. The 2017 revision set the value at Rs 4,690 per sq.ft, which was a significant drop of 33% from the previous figure. The value then rose to Rs 7,000 per sq.ft in 2023, and finally, it reached Rs 7,700 per sq.ft in the 2024 revision, a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 731% in the guideline value.

Guideline values in Pallipattu

In Pallipattu, there are 72 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 9,400 per sq.ft, placing Thiruvengadam Street's 2024 figure below that median.

• Uthuman Road: Rs 3,300 per sq.ft (2024)
• Teachers Colony: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 1st Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 2nd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 3rd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 4th Cross Street: Rs 9,400 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 of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Pallipattu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the fees are calculated based on a standardized value set by the government.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street is Rs 7,700 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 927 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 731% over the years.

What is the land classification for Thiruvengadam Street?

The land classification for Thiruvengadam Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Thiruvengadam Street?

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

How is the stamp duty calculated for properties in Thiruvengadam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at 7%.