Guideline Value for Thiruverkadu Palvadi Street

Thiruverkadu Palvadi Street guideline value

The current guideline value of Thiruverkadu Palvadi Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Thiruverkadu village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thiruverkadu Palvadi Street has changed

The guideline value for Thiruverkadu Palvadi Street has undergone several revisions over the years. In 2012, the value was Rs 1,400 per sq.ft. This figure remained the same in the next revision in 2017, where it dropped to Rs 938 per sq.ft. The 2023 revision saw a significant increase to Rs 1,400 per sq.ft, followed by another rise to Rs 1,540 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the value rose by 49% from 2017 to 2023. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street in the register.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which is the same as the 2024 figure for Thiruverkadu Palvadi Street. Below are other streets in Thiruverkadu with their respective guideline values:

• Thiruverkadu Mayana Road: Rs 1,540 per sq.ft (2024)
• Thiruverkadu-Madhiravedu Road: Rs 1,540 per sq.ft (2024)
• Thiruverkadu Kamadenu Nagar Main Road: Rs 1,760 per sq.ft (2024)
• Thiruverkadu Sakthivel Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Thiruverkadu Ganapathi Nagar Main Road: Rs 1,760 per sq.ft (2024)
• Thiruverkadu Sakthivel Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruverkadu Palvadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost for stamp duty and registration to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruverkadu Palvadi Street?

The Sub Registrar Office that covers Thiruverkadu Palvadi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Thiruverkadu, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and legally binding.

Frequently asked questions

What is the current guideline value of Thiruverkadu Palvadi Street?

The current guideline value of Thiruverkadu Palvadi Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 10% from Rs 1,400 per sq.ft in 2023 to Rs 1,540 per sq.ft in 2024. The value also saw a significant increase of 49% from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023.

What is the land classification for Thiruverkadu Palvadi Street?

Thiruverkadu Palvadi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Thiruverkadu Palvadi Street?

The registration office for Thiruverkadu Palvadi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Thiruverkadu?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft property at Rs 1,540 per sq.ft would incur a stamp duty of Rs 1,07,800.