Guideline Value for Thiruvenkadapuram

Thiruvenkadapuram guideline value

The current guideline value of Thiruvenkadapuram is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - IV.

How the guideline value of Thiruvenkadapuram has changed

The guideline value for Thiruvenkadapuram has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft, marking a decrease of 33%. Subsequently, the 2023 revision increased the guideline value to Rs 1,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

Vengambakkam has a total of 88 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Thiruvenkadapuram's 2024 figure above this median.

• Thiruvengadapuram Second Cross Street: Rs 990 per sq.ft (2024)
• Thiruvengadapuram Extension II: Rs 990 per sq.ft (2024)
• Thiruvengadapuram Extension: Rs 1,100 per sq.ft (2024)
• Thoppu Street: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 440 per sq.ft (2024)
• Thulukanathaman Koil Cross Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkadapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which totals Rs 77,000, and the registration fee is charged at 2%, amounting to Rs 22,000. Therefore, the total cost for stamp duty and registration fee would be Rs 99,000. 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 Thiruvenkadapuram?

The Sub Registrar Office that covers Thiruvenkadapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer agrees to purchase a property, the guideline value helps in calculating the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Thiruvenkadapuram?

The current guideline value of Thiruvenkadapuram is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Thiruvenkadapuram?

Thiruvenkadapuram is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty rates for property in Thiruvenkadapuram?

The stamp duty for property transactions in Thiruvenkadapuram is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thiruvenkadapuram located?

The Sub Registrar Office for Thiruvenkadapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.