Guideline Value for Thiruvengadam Swamy Street

Thiruvengadam Swamy Street guideline value

The current guideline value of Thiruvengadam Swamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thiruvengadam Swamy Street has changed

The guideline value for Thiruvengadam Swamy Street has seen several revisions over the years. In 2007, the value was Rs 850 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions include a 253% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 288%.

Guideline values in Saligramam

In Saligramam, there are 333 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 for these streets is Rs 4,400 per sq.ft, making the current value of Thiruvengadam Swamy Street below that median.

• Thiruvengadam Mudali Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thiyagi Sankaralingam Street: Rs 3,300 per sq.ft (2024)
• Tilaiyadi Valliammai Street: Rs 4,950 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)
• Valampuri Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Swamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the guideline value totals 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, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam Swamy Street?

The Sub Registrar Office that covers Thiruvengadam Swamy 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 Saligramam

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum sale price of properties, ensuring that the transaction is recorded accurately in the official register.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Thiruvengadam Swamy Street?

The current guideline value of Thiruvengadam Swamy Street 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 850 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. Significant changes include a 253% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the registration office for Thiruvengadam Swamy Street?

The registration office for Thiruvengadam Swamy Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

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 33,00,000, the stamp duty would be calculated at 7% of that amount.

What are the other streets in Saligramam with similar guideline values?

Other streets in Saligramam with similar guideline values include Thiruvengadam Mudali Street and Thiyagi Sankaralingam Street, both at Rs 3,300 per sq.ft as of 2024.