Guideline Value for Thiruvenkadan Lane

Thiruvenkadan Lane guideline value

The current guideline value of Thiruvenkadan Lane is Rs 850 per sq.ft, effective from 1 July 2024. This lane is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Thiruvenkadan Lane has changed

Over the years, the guideline value of Thiruvenkadan Lane has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 200 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, the value dropped to Rs 536 per sq.ft in 2017, which was a decrease of 33%. The most recent revisions show a steady increase, with the value rising to Rs 800 per sq.ft in 2023 and then to Rs 850 per sq.ft in 2024, reflecting a 6% increase.

There are no recorded figures for Thiruvenkadan Lane in the years 2002 and 2003. From 2017 to 2023, the value increased by 49%, demonstrating a significant upward trend in the guideline value over these years. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Thiruvenkadan Lane's guideline value is below this median.

• Thiruvenkadam Street: Rs 950 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 Thiruvenkadan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty is charged at 7%, which totals Rs 59,500, and the registration fee is 2%, amounting to Rs 17,000. Together, these fees amount to Rs 76,500. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvenkadan Lane?

The Sub Registrar Office that covers Thiruvenkadan Lane 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 in the registration process for buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the transaction is conducted in compliance with local regulations. It also provides transparency in the valuation of properties within the area.

Frequently asked questions

What is the current guideline value of Thiruvenkadan Lane?

The current guideline value of Thiruvenkadan Lane is Rs 850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 200 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, which is a total increase of 325% over the years.

What are the stamp duty and registration fees for properties in Thiruvenkadan Lane?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 59,500 and the registration fee is Rs 17,000, amounting to a total of Rs 76,500.

Which Sub Registrar Office covers Thiruvenkadan Lane?

The Selaiyur Sub Registrar Office covers Thiruvenkadan Lane, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Thiruvenkadan Lane?

Thiruvenkadan Lane is classified as Residential Class V Type - I, indicating its designation for residential development.