Guideline Value for Thiruvenkata Naicker Street

Thiruvenkata Naicker Street guideline value

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

How the guideline value of Thiruvenkata Naicker Street has changed

The guideline value for Thiruvenkata Naicker Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which then increased significantly to Rs 800 per sq.ft in 2012. However, it decreased to Rs 536 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 800 per sq.ft, and the most recent revision in 2024 raised it to Rs 850 per sq.ft.

Looking at the changes, from 2007 to 2012, there was a remarkable increase of 167%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023. Finally, the change from 2023 to 2024 reflects a 6% increase. Overall, from 2007 to 2024, the guideline value has risen by 183%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry 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. Thiruvenkata Naicker Street's 2024 figure is below this median.

• Thiruvenkadan Lane: Rs 850 per sq.ft (2024)
• Thiruvenkadam Street: Rs 950 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 Thiruvenkata Naicker Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thiruvenkata Naicker Street?

The Thiruvenkata Naicker Street falls under 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 is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvenkata Naicker Street?

The current guideline value of Thiruvenkata Naicker Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 300 per sq.ft in 2007, rising to Rs 800 in 2012, decreasing to Rs 536 in 2017, and finally reaching Rs 850 in 2024.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include Thiruvenkadan Lane at Rs 850 per sq.ft, Thiruvenkadam Street at Rs 950 per sq.ft, and Thiruvalluvar Street West at Rs 3,300 per sq.ft, among others.

How is stamp duty calculated for properties in Thiruvenkata Naicker Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 at 7%.

Where can I find the Sub Registrar Office for Thiruvenkata Naicker Street?

The Sub Registrar Office covering Thiruvenkata Naicker Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073. You can find your SRO for more details.