Guideline Value for Thiruvengadam Street

Thiruvengadam Street guideline value

The current guideline value of Thiruvengadam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Thiruvengadam Street has changed

The guideline value for Thiruvengadam Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 1,210 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 6,000 per sq.ft. The value remained unchanged in the 2023 revision, still at Rs 6,000 per sq.ft. However, the most recent revision in 2024 marked an increase to Rs 6,600 per sq.ft, representing a 10% rise from the previous year.

Overall, from the 2007 revision to the current 2024 rate, there has been a substantial increase of 445%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the 2024 guideline value of Thiruvengadam Street above this median.

• Thiruvalluvar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Thiru. Vi.Ka. Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Thiru.Vi.Ka. Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Salai (Nesapakkam): Rs 2,700 per sq.ft (2024)
• Thiyagi Kuppan 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that 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 Thiruvengadam Street?

The Sub Registrar Office that covers Thiruvengadam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property transaction in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is particularly important for legal documentation and taxation purposes.

Frequently asked questions

What is the current guideline value of Thiruvengadam Street?

The current guideline value of Thiruvengadam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 445% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Thiruvengadam Street?

The Ashok Nagar Sub Registrar Office covers Thiruvengadam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Thiruvengadam Street?

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