Guideline Value for Thiruvika Nagar

Thiruvika Nagar guideline value

The current guideline value of Thiruvika Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,400 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class III Type - III.

How the guideline value of Thiruvika Nagar has changed

The guideline value for Thiruvika Nagar has seen significant changes over the years. In 2002, the value was Rs 79 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 27% rise. By 2007, the value surged to Rs 200 per sq.ft, reflecting a 100% increase. The most notable jump occurred between 2007 and 2012, where the value skyrocketed to Rs 1,300 per sq.ft, an increase of 550%. The value remained unchanged at Rs 1,300 per sq.ft until the 2023 revision, where it was again set at Rs 1,300 per sq.ft.

In 2024, the guideline value rose to Rs 1,400 per sq.ft, representing an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by a substantial 1672%. The register has no figure for the year 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making Thiruvika Nagar's 2024 figure below that median.

• Thiru.Vi.Ka. Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Tholkappiar Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Thiruvarutpa Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Nagar 9th Street: Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Nagar 8th Street: Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Nagar 7th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvika Nagar?

The Sub Registrar Office that covers Thiruvika Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees payable during the transaction.

When purchasing property, it is essential to ensure that the sale price meets or exceeds the guideline value, as the higher amount will be used for calculating the applicable duties and fees. This ensures compliance with local regulations and facilitates a smooth registration process.

Frequently asked questions

What is the current guideline value of Thiruvika Nagar?

The current guideline value of Thiruvika Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 79 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of Thiruvika Nagar?

Thiruvika Nagar is classified as Residential Class III Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot would incur a total of Rs 1,26,000 in fees.

Where can I find the Sub Registrar Office for Thiruvika Nagar?

The Ambattur Sub Registrar Office, which covers Thiruvika Nagar, is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.