Guideline Value for Thiruvenkadam Street

Thiruvenkadam Street guideline value

The current guideline value of Thiruvenkadam Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thiruvenkadam Street has changed

The guideline value for Thiruvenkadam Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased to Rs 900 per sq.ft in 2012, marking a 100% increase. However, it then decreased to Rs 603 per sq.ft in 2017, reflecting a decline of 33%. The value rose significantly to Rs 900 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 950 per sq.ft, an increase of 6% from the previous year.

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 111%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Thiruvenkadam Street's 2024 figure below this median.

• Thiruvenkadan Lane: Rs 850 per sq.ft (2024)
• Thiruvenkata Naicker Street: Rs 850 per sq.ft (2024)
• Thiru Ve.Ka Street: Rs 950 per sq.ft (2024)
• Thiruvalluvar Street West: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street Ext: Rs 3,500 per sq.ft (2024)
• Thiruvalluvar Street East: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkadam Street

For a 1,000 sq.ft plot at the current rate of Rs 950 per sq.ft, the guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvenkadam Street?

The Sub Registrar Office that covers Thiruvenkadam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in determining the official value of the property, which is necessary for legal documentation and taxation purposes. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvenkadam Street?

The current guideline value of Thiruvenkadam Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, reflecting an overall increase of 111% over this period.

What are the stamp duty rates for properties in Thiruvenkadam Street?

The stamp duty rate for properties in Thiruvenkadam Street is 7%, calculated on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles Thiruvenkadam Street?

The Selaiyur Sub Registrar Office handles Thiruvenkadam Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current guideline value of Thiruvenkadam Street.