Guideline Value for Thoppu Venkatachalam Street

Thoppu Venkatachalam Street guideline value

The current guideline value of Thoppu Venkatachalam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Thoppu Venkatachalam Street has changed

The guideline value for Thoppu Venkatachalam Street has undergone several revisions over the years. In 2007, the figure was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value rose to Rs 6,000 per sq.ft in 2023 before reaching the current value of Rs 6,600 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 535%. However, this was followed by a decrease of 33% from 2012 to 2017. The value then saw a substantial increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current figure for Thoppu Venkatachalam Street.

• Thulasinga Perumal Koil 1st Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil 2nd Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil Lane: Rs 5,500 per sq.ft (2024)
• Thulasinga Perumal Koil South Mada Street: Rs 6,600 per sq.ft (2024)
• Thulasinga Perumal Koil Street: Rs 7,700 per sq.ft (2024)
• Thiru.Vi.Ka.Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thoppu Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thoppu Venkatachalam Street?

The Sub Registrar Office that covers Thoppu Venkatachalam Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property transactions in Triplicane. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Thoppu Venkatachalam Street?

The current guideline value of Thoppu Venkatachalam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 598%.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Thoppu Venkatachalam Street?

The Triplicane Sub Registrar Office is responsible for Thoppu Venkatachalam Street, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the appropriate revenue is collected by the government.